Boeing posts second-quarter loss after new Air Force One program charge
How left and right are reading this
- Both agree
- A fixed-price contract means Boeing, not taxpayers, absorbs much of the overrun, while a four-year delay on presidential aircraft is still a real failure.
- They split on
- Whether the story is about shielding the public from contractor overruns, or about an unacceptable delay in delivering a basic presidential capability.
The Facts
- Boeing reported a net loss of $428 million in the second quarter of 2026.
- The quarter included a $280 million charge related to Boeing's program to build two replacement U.S. presidential aircraft.
- Boeing said the latest Air Force One-related costs were tied to added production, engineering and certification resources for the program.
- Delivery of the first replacement presidential aircraft is now expected in 2028, later than the earlier 2024 target, amounting to a four-year delay.
- Boeing agreed in 2018 to build the two aircraft under a fixed-price contract valued at about $3.9 billion.
- Because the contract is fixed-price, Boeing rather than the U.S. government is exposed to much of the program's cost overruns.
- Despite the quarterly loss, Boeing reported revenue growth of about 8% to roughly $24.6 billion in the quarter.
Analytical frames for this storyTap to explore
Context
What is the Air Force One program in this case?
It is Boeing's contract to deliver two heavily modified 747-8 aircraft that will replace the current U.S. presidential planes; the aircraft use the Air Force One call sign when the president is aboard DH.be,CNBC,tagesschau.de.
Why did this program affect Boeing's quarterly results?
Boeing recorded a $280 million charge in the quarter because it said it needed more production, engineering and certification resources to complete the delayed aircraft, and those added costs contributed to the company's $428 million net loss NYT,Aol,N-tv.
What remains unresolved?
Boeing still has to deliver the aircraft on its revised 2028 schedule, and the program has already moved four years beyond the earlier 2024 target after repeated overruns and delays NYT,CNBC,tagesschau.de.
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