Home / Contract Awards / Air Force Formalizes $3.9B Boeing Contract for 2 Presidential Planes

Air Force Formalizes $3.9B Boeing Contract for 2 Presidential Planes

The U.S. Air Force has awarded Boeing (NYSE: BA) a potential $3.9 billion contract to design, modify, test, certify and field a pair of presidential aircraft.

USAF will obligate $64 million in fiscal 2018 research and development funds at the time of award, the Defense Department said Tuesday.

This award formalizes an agreement that President Donald Trump and the Chicago-based company reached in February

The service branch initially announced in January 2015 the selection of the 747-8 airframe for the next Air Force One fleet.

Boeing is scheduled to complete work under the sole-source contract by December 2024.

Check Also

Curtiss-Wright Completes Tactical Communications Group Acquisition; David Adams Quoted

Curtiss-Wright (NYSE: CW) has closed its $50M cash acquisition of Tactical Communications Group, a Tewksbury, Mass.-based …

Navy Awards Four Spots on Potential $976M SAP Products, Services BPA

Four companies have won spots on a potential 10-year, $975.9M U.S. Navy blanket purchase agreement …