Boeing CEO Dave Calhoun claims that Trump-era Air Force One deals were not the right decision.

Boeing CEO Dave Calhoun said Wednesday to investors that the company shouldn't have signed a fixed-price agreement with Donald Trump, former president and author of "Art of the Deal". He wanted to create a new Air Force One fleet.

Boeing CEO Dave Calhoun claims that Trump-era Air Force One deals were not the right decision.

After a 2018 agreement Trump signed with the company, Boeing now pays the entire cost of developing the two 747-class jets for the fleet. CBS News reported that the new fleet was initially supposed to be ready for use in 2024. However, Boeing now projects that they could be delayed 17 months. Calhoun, who was at the time on the board when the deal was struck, was the new CEO of Boeing.

Calhoun said to investors that the company shouldn't have signed the $3.9 billion fixed price contract. However, he called the situation unique and stated that they will still produce great planes. Boeing cannot charge the government any overages for cost that may arise under the fixed-price agreement.

"Air Force One, I just want to call a very rare moment, a unique negotiation, and a very special set of risks that Boeing probably shouldn’t have taken. But we are where are now, and we’re going to deliver great planes. Calhoun stated that we will recognize the associated costs.

According to the company, the increased costs are due to higher supplier costs, higher finalization costs and delays in scheduling. The last two years have seen pandemic-related supply chains issues plague the world.

In December 2016, Trump posted that program costs were "out of control", more than $4Billion, and added, "Cancel Order!" Trump met with Dennis Muilenburg, Boeing's former chief executive, to discuss the Air Force One contract.

The Trump White House stated that the agreement would save taxpayers $1.4 billion at the time it was signed in 2018.

In 1959, President Dwight Eisenhower was seated in Air Force One. However, it was President John F. Kennedy that brought the plane into the jet age.

Jen Psaki, White House Press Secretary, stated Tuesday that she did not have additional details regarding the Boeing delays.

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