Stock Market News

Labor shortage, security may delay Boeing’s new Air Force One – U.S. watchdog

2022.06.09 02:23

Labor shortage, security may delay Boeing's new Air Force One - U.S. watchdog
FILE PHOTO: The Boeing logo is displayed on a screen, at the New York Stock Exchange (NYSE) in New York, U.S., August 7, 2019. REUTERS/Brendan McDermid

By Costas Pitas

(Reuters) – The next-generation presidential aircraft being built by Boeing (NYSE:BA) risks further delay due to a tight labor market for mechanics and lower-than-expected security clearance rates, the investigative arm of Congress said on Wednesday.

The need for Boeing to switch to an alternative supplier for some interior work was also cited in the report issued by the U.S. Government Accountability Office (GAO) as a major schedule risk.

Air Force One – emblazoned with the American flag, the words “United States of America” and the seal of the office – is famous the world over as an airborne White House.

The current aircraft has 4,000 square feet (372 square meters) of space on three levels, including a conference room and medical suite.

The Boeing 747-8s are designed to be able to fly in worst-case security scenarios such as nuclear war, and are modified with military avionics, advanced communications and a self-defense system.

Boeing received a $3.9 billion contract in 2018 for two 747-8 aircraft to be delivered around 2024. The Pentagon said this year that the planes are not likely to be delivered until 2026.

“Boeing is experiencing aircraft mechanic workforce limitations due to a competitive labor market,” GAO said in its report.

“They said that an additional limitation is lower-than-planned security clearance approval rates for skilled workers needed to modify the aircraft.”

Boeing did not immediately respond to a request for comment.

In December 2016, then U.S. President-elect Donald Trump extracted a promise from then Boeing CEO Dennis Muilenburg that the cost of replacing Air Force One would not exceed $4 billion.

Trump had earlier urged the government to cancel purchase of Boeing’s new Air Force One saying it was “ridiculous” and too expensive.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 97,479.12 1.06%
ethereum
Ethereum (ETH) $ 3,339.53 2.83%
tether
Tether (USDT) $ 1.00 0.09%
solana
Solana (SOL) $ 250.31 3.41%
bnb
BNB (BNB) $ 655.18 0.78%
xrp
XRP (XRP) $ 1.38 7.43%
dogecoin
Dogecoin (DOGE) $ 0.418752 6.38%
usd-coin
USDC (USDC) $ 0.999375 0.06%
cardano
Cardano (ADA) $ 0.988451 8.89%
staked-ether
Lido Staked Ether (STETH) $ 3,341.04 2.70%
tron
TRON (TRX) $ 0.207769 3.62%
avalanche-2
Avalanche (AVAX) $ 40.69 4.52%
stellar
Stellar (XLM) $ 0.509346 13.30%
the-open-network
Toncoin (TON) $ 6.08 4.71%
shiba-inu
Shiba Inu (SHIB) $ 0.000025 7.79%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,961.14 2.59%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 97,373.09 0.64%
polkadot
Polkadot (DOT) $ 8.57 8.86%
chainlink
Chainlink (LINK) $ 17.47 2.99%
bitcoin-cash
Bitcoin Cash (BCH) $ 505.44 3.30%
weth
WETH (WETH) $ 3,341.63 2.70%
sui
Sui (SUI) $ 3.34 5.75%
pepe
Pepe (PEPE) $ 0.00002 5.21%
near
NEAR Protocol (NEAR) $ 6.80 6.17%
leo-token
LEO Token (LEO) $ 8.63 0.38%
litecoin
Litecoin (LTC) $ 95.75 6.41%
aptos
Aptos (APT) $ 12.09 8.48%
uniswap
Uniswap (UNI) $ 10.69 2.17%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,519.06 2.80%
hedera-hashgraph
Hedera (HBAR) $ 0.139743 11.03%
internet-computer
Internet Computer (ICP) $ 11.20 5.46%
usds
USDS (USDS) $ 0.998841 0.24%
crypto-com-chain
Cronos (CRO) $ 0.183812 8.57%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.549728 7.24%
ethereum-classic
Ethereum Classic (ETC) $ 28.14 6.88%
render-token
Render (RENDER) $ 7.93 0.70%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.50 2.37%
bittensor
Bittensor (TAO) $ 526.57 1.66%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.06%
kaspa
Kaspa (KAS) $ 0.150221 3.82%
whitebit
WhiteBIT Coin (WBT) $ 24.39 1.57%
dai
Dai (DAI) $ 0.999352 0.07%
bonk
Bonk (BONK) $ 0.000046 7.35%
arbitrum
Arbitrum (ARB) $ 0.835542 5.52%
vechain
VeChain (VET) $ 0.042125 4.15%
blockstack
Stacks (STX) $ 2.27 7.42%
filecoin
Filecoin (FIL) $ 5.49 6.05%
okb
OKB (OKB) $ 55.01 6.82%
celestia
Celestia (TIA) $ 7.64 3.10%
cosmos
Cosmos Hub (ATOM) $ 8.34 9.74%