Business · 28 July 2026
Boeing posts $428 million quarterly loss as Air Force One replacement costs climb
The American plane-maker took a $280 million hit to cover extra engineering work on two delayed US presidential jets. The agreement signed in 2018 is currently running four years late and has exceeded its budget by over $1 billion. Even with the overall shortfall, the company's share price climbed slightly on Tuesday because it brought in $631 million in cash.
Reported by Reuters · How we write briefs