Boeing posts larger-than-expected Q2 loss as Air Force One costs rise

The planemaker is also working to deliver two 747-8 jets to serve as Air Force One under a $3.9 billion fixed-price contract signed in 2018 that is now four years behind schedule and more than $1 billion over budget.

U.S. President Donald Trump accepted a Qatari-donated 747-8 jet that is serving as an Air Force One plane in the meantime, though he said this month it would soon be sent away for upgrades following questions about its security features.

Boeing on Tuesday reported a larger-than-expected quarterly loss after taking a $280 million charge on its troubled Air Force One replacement program, but generated positive free cash flow as its turnaround plans gained momentum.

It took the charge due to higher engineering costs to ensure it delivers the two delayed U.S. presidential plane replacements in 2028, contributing to a $428 million net loss for the second quarter.

The core loss per share of 76 cents was worse than analysts' average expected loss per share of 30 cents, according to LSEG data, though narrower than the $1.24 per share core loss in the same period last year.