President Donald Trump struck a deal for the replacement aircraft during his first term. Boeing is working with Trump advisor Elon Musk on ways to deliver delayed, overbudget Air Force One replacements sooner, CEO Kelly Ortberg said Tuesday.

Boeing has already amassed $2.6 billion of reach-forward losses on the $3.9 billion fixed-price VC-25B contract as of Q2 2024.

Boeing has lost more than $2 billion producing the Next Air Force One after President Donald Trump renegotiated the deal in his first term.

Mike Whitaker, unanimously confirmed as the FAA administrator in October 2023, stepped down early from his five-year term on Jan. 20 when Trump took office and for 10 days the FAA declined to say who was running the agency on an acting basis. Trump has not yet named a permanent candidate to replace Whitaker.

U.S. Transportation Secretary Sean Duffy said late on Thursday he will soon announce a plan to reform the Federal Aviation Administration (FAA) after a devastating collision between an American Airlines regional plane and an Army helicopter killed 67 people.