"President Trump has reached an informal deal with Boeing on a fixed price contract for the new Air Force One Program," a White House spokesman told CNBC. "Thanks to the President's negotiations, the contract will save the taxpayers more than $1.4 Billion."
The list price for one of Boeing's 747-8s is $351.4 million, according to Reuters. But the jumbo jet will require significant modifications before carrying the president.
The administration had formally "booked" its order with Boeing for two of its 747-8 planes back in November 2017, but the price was still being negotiated.
As president-elect, Trump complained about the price tag for replacing Air Force One.
In December 2016, he tweeted:
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View this post on XThat complaint resulted in a pledge from Boeing CEO Dennis Muilenburg that costs for a new Air Force One would not exceed $4 billion.
