Boeing reportedly nears deal with Trump for two Air Force One planes

Jonathan Ernst | Reuters

President Donald Trump arrives via Air Force One at Bismarck Municipal Airport in Bismarck, North Dakota, September 6, 2017.

Boeing and President Donald Trump are nearing a multibillion-dollar deal for two new Air Force One planes, potentially ending the drawn out and highly publicized negotiations between the two parties, Defense One reported.

Boeing confirmed to CNBC that Trump and Boeing CEO Dennis Muilenburg “had a productive meeting this week.”

In a Tuesday meeting at the White House, Trump and Muilenburg had a breakthrough in gridlocked negotiations on the two 747 jumbo airliners that the military purchased from the aerospace firm last summer and an announcement is anticipated soon, Defense One reported.

Charged negotiations between the Air Force – which purchases the planes – and Boeing were thrust into the spotlight in December 2016 when then president-elect Trump tweeted his outrage about the costs.

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

Later that day, he amplified his message in the lobby of Trump Tower: “Well the plane is totally out of control, it’s going to be over $4 billion for Air Force One program,” he said. “I think it’s ridiculous, I think Boeing is doing a little bit of a number. We want Boeing to make a lot of money, but not that much money.”

Boeing shares rose 0.2 percent in early trade on Friday. The stock is up 21 percent year to date.