Boeing lost $766 million during the third quarter of this year on the project to build two planes that will serve as the next Air Force One, the company said in its latest earnings report.
The figure takes the company’s losses for the project to $1.9 billion since it began.
“Supply chain, inflation, labor shortages, macroeconomic challenges are challenging for everybody,” Dave Calhoun, the CEO of Boeing, said during the call to discuss the company’s earnings.
Boeing is liable for the cost of any overruns in the project under a deal struck with the White House to produce the two VC-25s in 2018. Then-President Donald Trump played a personal role in the negotiations to agree on the fixed-price deal.