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A Boeing rendering of the future Air Force One or VC-25B. The aircraft is the same type of jet as the donated Qatari jet that President Donald Trump is using as a temporary Air Force One.\u00a0 \u00a0<\/p>\n
Boeing<\/p>\n
Boeing Co.\u2019s troubled Air Force One project<\/a> underway at Port San Antonio<\/a> lost another $280 million, adding to the company\u2019s losses in the second quarter.<\/p>\n The Arlington, Va.-based airplane maker reported a $444 million loss<\/a> on $24.6 billion in revenue for the period that ended June 30.\u00a0\u00a0<\/p>\n Article continues below this ad<\/p>\n The firm blamed much of the loss on its work in San Antonio to convert two 747s into presidential jets, known as the VC-25B project. That $4 billion deal, partially brokered by President Donald Trump during his first term, is four years behind schedule and at least $2.7 billion over the original price.\u00a0<\/p>\n RELATED: Boeing\u2019s Port San Antonio Air Force work is years late and over budget, federal watchdog says<\/a><\/p>\n Boeing President and CEO Kelly Ortberg called the VC-25B loss \u201cdisappointing,\u201d but said it was necessary to stay on track to deliver the jet in 2028.<\/p>\n San Antonio Express News Logo<\/p>\n Make us a Preferred Source on Google to see more of us when you search.<\/p>\n <\/p>\n Add Preferred Source<\/p>\n <\/a><\/p>\n The company \u201cmade the decision to add significant resources to support the build and test schedule on VC-25B,\u201d Ortberg said during Tuesday\u2019s earnings call. They\u2019ll \u201chelp mitigate potential risks during certification and flight tests.\u201d<\/p>\n Article continues below this ad<\/p>\n Boeing still expects to deliver the first jet in 2028.\u00a0<\/p>\n A recent government report<\/a> found that in addition to delays, the biggest risk to the program is whether the Air Force and Boeing can complete certifications and testing on a tight schedule. Only seven of 80 steps to certify the jets\u2019 airworthiness were complete, according to the Government Accountability Office. \u00a0<\/p>\n Boeing\u2019s work at the port has been slowed over the years by various issues, including COVID, design problems, a need to redo work, subcontractor issues, a shortage of qualified workers and security lapses.\u00a0<\/p>\n Frustration over the company\u2019s slow progress on the jets was one of the reasons that Trump had the Air Force convert a donated Qatari luxury liner<\/a> into a temporary Air Force One.<\/p>\n Article continues below this ad<\/p>\n READ NEXT: Trump\u2019s Qatar jet likely headed to Texas for security upgrades<\/a><\/p>\n That 14-year-old jet, known as the Bridge Aircraft, is slated to\u00a0go out of service<\/a> to get more work done in the wake of reports of security vulnerabilities after Trump had to fly out of Turkey on an old Air Force One. Neither the Pentagon nor White House has said how much the upgrades to the plane that Trump plans to keep after he leaves office will cost taxpayers.\u00a0\u00a0<\/p>\n \u201cOur focus has been on restoring trust and we are now building on that through a sustained focus on safety, quality, and on-time performance,\u201d\u00a0Ortberg said in a statement. \u201cWhile there is more work ahead in the second half of the year, the momentum we are building continues to move Boeing in the right direction.\u201d<\/p>\n Despite the charge on the Air Force One program, Boeing reported that it had narrowed its loss compared with the second quarter of 2025, when it reported a net loss attributable\u00a0to shareholders of $611 million. Revenue also improved, rising 8%.\u00a0<\/p>\n Article continues below this ad<\/p>\n Although revenue exceeded analysts\u2019 average estimate of $24.1 billion, Boeing’s loss was significantly larger than expected. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 34 cents per share. Boeing reported a loss of 67 cents per share; adjusted for non-recurring gains, the loss was 76 cents per share.\u00a0<\/p>\n Boeing\u2019s defense, space and security business, which includes its work on the Air Force One jets, lost $15 million on $7.4 billion in revenue. In the second quarter of 2025, it reported a profit of $110 million on revenue of $6.6 billion.\u00a0<\/p>\n Its commercial airplane business lost $322 million on $11.8 billion in revenue, an improvement from the year-ago quarter when it lost $557 million on revenue of $10.9 billion.\u00a0<\/p>\n Only its aftermarket support and maintenance business, known as Global Services, posted a profit. It made $968 million on $5.3 billion in revenue. Although the unit\u2019s revenue was up 1% compared with the second quarter of 2025, its profit slipped 8%.\u00a0<\/p>\n Article continues below this ad<\/p>\n<\/p>\n