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.

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 If the order were to be canceled, as Trump hopes for, it’s not clear if he’d plan to fly with the outdated -200s in the Air Force One fleet or if he’d maintain his personal fleet of aircraft — including his beloved Boeing 757, which would require refueling on longer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.

H/T: Bloomberg

Featured image courtesy of Carsten Koall via Getty Images.

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.