Boeing Stock Slips as Trump Says Order for Air Force One is “Out of Control”
President-elect Donald Trump threatens by sending the following tweet this morning, “Boeing is building a brand new 747 Air Force Once for future presidents, but costs are out of control, more than $4 billion. Cancel order!”
Trump then made a surprise appearance in front of reporters at Trump Tower where he added, “Well, the plane is totally out of control. It’s gonna be over 4 billion dollars…and I think it’s ridiculous. I think Boeing is doing a little bit of a number. We want Boeing to make a lot of money but not that much money.”
Following the tweet a spokesman for Boeing said to the AP, “We are going to have to get back to you after we figure out what’s going on.” Boeing later issued a statement saying the amount of their current contract at just $170 million with more phrases to come. The statement went on to say, “We are currently under contract for $170 million to help determine the capabilities of these complex military aircraft that serves the unique requirements of the President of the United States. We look forward to working with the US Air Force on subsequent phases of the program allowing us to deliver the best planes for the President at the best value for the American taxpayer.”
Following Trump’s tweet Boeing stocks dropped by more than one percent in premarket trade according to CNBC.