Air Force One Contract Significantly Lower Than Trump’s Claims - Boeing

Boeing’s contract to develop a new Air Force One aircraft for the US president totals $170 million, a sum far lower than President-elect Donald Trump said when calling for the order to be cancelled on Tuesday, the company said in a statement.

WASHINGTON (Sputnik) — Earlier in the day, Trump said he wanted to cancel the order for a new Air Force One from Boeing because the airplane’s price and the associated research and development program were "ridiculous." He claimed the aircraft would cost the US Air Force $4 billion.

"We are currently under contract for $170 million to help determine the capabilities of this complex military aircraft that serves the unique requirements of the President of the United States," the statement stated on Tuesday.

Boeing said in the statement that the company is looking forward to working with the US Air Force on subsequent phases of the program which would allow the company "to deliver the best plane for the president at the best value for the American taxpayer."

According to media reports, the US Air Force budgeted $1.65 billion for the new Air Force One plane. Two planes will be needed to replace the current Boeing 747-200s used by the US president. The aircraft reach their 30-year life expectancy in 2017.

The new planes likely will not be ready until 2024.