On Tuesday, President-elect Donald Trump targeted Boeing, stating that the 747 Air Force One replacement program run by Boeing is costing too much and he would cancel the order:
Boeing is creating a 747-8 aircraft to take over the program. That aircraft will replace the two 747-200s used for the presidential Air Force One fleet. In January, Boeing won the contract worth nearly $26 million to create a new Air Force One program that would reduce risk and lower cost, according to Reuters.
Trump told reporters, “I think it’s ridiculous, I think that Boeing is doing a bit of a number. We want Boeing to make a lot of money, but we don’t want Boeing to make that much money.”
As CNBC reported, following Trump’s remarks, Boeing’s stock fell: “Before Trump’s tweet, Boeing was trading at $152.16 a share. After the tweet, it fell, 1.6 percent to a low of $149.75 a share, according to FactSet. Within the first hour of trading, shares of Boeing were down about 0.5 percent.”