Boeing Shares Drop on Report of Production Issues With New Air Force One
2022.04.05 21:17
By Sam Boughedda
Investing.com — Boeing Co (NYSE:BA) shares fell 4% after a report on Tuesday that factory production problems have hit one of the plane maker’s new Air Force One jets.
The Wall Street Journal reported the issues, citing people familiar with the matter. The report said the problem, which occurred earlier this year, involves a couple of attempts to place one of the two U.S. presidential jets under development onto jacks. This is said to have risked damaging the aircraft, which is already said to be behind schedule.
Boeing shares fell 4% following the report and are currently down 8.9% in 2022.
The 747-8 Boeing aircraft, known as VC-25B military variants, are highly classified and significantly modified 747-8.
In Boeing court documents, following a supplier dispute, the Air Force One jets were described as “effectively an airborne seat of government” and hold the “highest national priority.”
