Report: Trump, Boeing Reach Potential $3.9B Deal for Presidential Aircraft Production

The White House and Boeing (NYSE: BA) have reached a potential $3.9 billion deal for the aerospace company to build two presidential planes, Reuters reported Tuesday.

“President Trump has reached an informal deal with Boeing on a fixed-price contract for the new Air Force One Program,” Hogan Gidley, deputy press secretary, told the publication.

Gidley added the U.S. government expects to save more than $1.4 billion through the agreement.

The U.S. Air Force purchased in August 2017 two Boeing-built 747-8 aircraft that will be modified to replace the aging VC-25A planes as part of the Presidential Aircraft Recapitalization program.

Modification work on the two planes will include the integration of a self-defense platform, military avionics and communications systems, the report added.

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