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Business/Financial

Future Air Force One, T-7A Trainer Hit By $1 Billion In Charges In Boeing’s First Quarter

By Cal Biesecker

Wednesday, April 27th, 2022

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Future Air Force One, T-7A Trainer Hit By $1 Billion In Charges In Boeing’s First Quarter

Boeing President and CEO Dave Calhoun. Photo: Boeing

Boeing [BA] on Wednesday said two of its Air Force development programs, the VC-25B presidential transport plane and the T-7A trainer aircraft, suffered more than $1 billion in combined write-offs, adding to the steady drum beat of development challenges the company’s defense business has encountered on various programs. The $660 million hit to the VC-25B program was due to higher supplier costs, higher costs to finalize technical requirements, and schedule delays, Brian West, Boeing’s chief financial officer said during the…

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