Boeing reported a net loss of $428 million in the second quarter of 2026, driven primarily by an additional $280 million charge on the VC-25B program – the next-generation Air Force One. Revenue rose 8 percent to $24.56 billion, but the loss surprised analysts who had expected a small profit.
The American aerospace giant swung to a $428 million net loss in the April-June period, compared to a $612 million loss a year earlier. Analysts polled by financial data firms had forecast a positive result of several tens of millions of dollars.
Air Force one cost overruns deepens
The main culprit, according to Boeing’s CEO Kelly Ortberg, was an extra $280 million allocated to finishing the VC-25B program – the two Boeing 747-8s being converted into presidential aircraft. The project is already more than a year behind schedule and has exceeded its original budget by nearly $2 billion.
– Additional $280 million was allocated to complete the VC-25B program – said Kelly Ortberg in a statement.
Under the contract between the U.S. government and Boeing, the first VC-25B is scheduled to enter service in the first half of 2028, with the second following a year later. Once the president boards, the aircraft are designated Air Force One.
Production and cash flow improve
Despite the quarterly loss, Boeing showed underlying operational improvements. Free cash flow in Q2 reached $631 million, and the company expects at least $1 billion for the full year.
The manufacturer is gradually ramping up output. In June, it delivered 64 aircraft to customers, including 42 of the best-selling 737 MAX. Since the start of 2026, Boeing has produced 314 planes.
The quarterly results underscore the lingering toll of fixed-price government contracts on Boeing’s bottom line, even as its commercial aircraft business gains momentum.
Źródło: WNP.PL, Fot. Florida Chuck / Shutterstock
