This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. For an explanation of our Advertising Policy, visit this page.
President-elect Donald Trump announced on Twitter today that he wants to cancel the Defense Department’s contract with Boeing for new 747-8 aircraft. Currently, the Air Force One fleet has two 747-200 aircraft, which are set to be replaced with the newer and more fuel efficient 747-8. Chicago-based Boeing and the Pentagon announced the deal for the new aircraft in January, but the President-elect wants to see the deal be canceled.
Boeing is building a brand new 747 Air Force One for future presidents, but costs are out of control, more than $4 billion. Cancel order!
— Donald J. Trump (@realDonaldTrump) December 6, 2016
According to Reuters, the initial contract was for about $26 million, which was to be used toward the initial research, and the Defense Department followed that funding with an additional $127.3 million to be used for developing interior, power and electronic specifications. In addition, the Air Force said that it’d dedicated $1.65 billion for the two new 747-8s. The new 747-8s were supposed to begin operation in 2023, taking over for the aging 747-200s, which will then have well-surpassed the 30-year service life by about six years.
“We want Boeing to make a lot of money, but not that much money,” Trump said in the lobby of Trump Tower not long after the tweet was sent out.
The newer -8s have a longer flight range and faster cruise speed. If the order were to be canceled, as Trump hopes for, it’s not clear if he’d plan to fly with the outdated -200s in the Air Force One fleet or if he’d maintain his personal fleet of aircraft — including his beloved Boeing 757, which would require refueling on longer routes.
Featured image courtesy of Carsten Koall via Getty Images.
With great travel benefits, 2x points on travel & dining and a 50,000 point sign up bonus, the Chase Sapphire Preferred is a great card for those looking to get into the points and miles game. Here are the top 5 reasons it should be in your wallet, or read our definitive review for more details.
- Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
- Chase Sapphire Preferred® named a 'Best Travel Credit Card' by MONEY® Magazine, 2016-2017
- 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
- Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
- No foreign transaction fees
- 1:1 point transfer to leading airline and hotel loyalty programs
- Get 25% more value when you redeem for travel through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel.
- No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards