• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
TechFortune 500

Planes Built for Bankrupt Russian Airline May Be the Next Air Force One

By
Reuters
Down Arrow Button Icon
By
Reuters
Down Arrow Button Icon
August 1, 2017, 7:54 PM ET
Air Force One
Air Force One on May 8, 2014 in San Diego, California. Jerod Harris WireImage

Facing pressure from President Donald Trump to cut the cost of new Air Force One aircraft, the U.S. Air Force is negotiating with Boeing to purchase two 747-8 jetliners that were built for a Russian airline that went bankrupt before they were delivered.

“We’re working through the final stages of coordination to purchase two commercial 747-8 aircraft and expect to award a contract soon,” said Air Force spokeswoman Ann Stefanek, who declined to elaborate on the details.

National security publication Defense One, which first reported the negotiations, said the Air Force was believed to be getting a good deal on the aircraft, which sell for about $386 million on average.

The two aircraft were initially ordered four years ago by Transaero, a Russian airline that went bankrupt in 2015, a person familiar with the talks told Reuters.

Boeing built two 747-8s out of an order of four. But the airline never took ownership of them, and the planes have been stored in the Mojave Desert, where the dry, hot climate slows corrosion, Defense One said.

Trump rattled Boeing in December before taking office by saying in a Twitter message: “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!”

Boeing Chief Executive Officer Dennis Muilenburg called Trump and told him the cost could be reduced if the Air Force changed its requirements, sources familiar with the conversation said at the time.

White House officials in December were unclear where Trump obtained the $4 billion figure. The Air Force has estimated it would spend $2.87 billion through 2021 for development of a new presidential aircraft.

Get Data Sheet, Fortune’s technology newsletter.

The cost of refitting the commercial 747-8s with the enhanced electronics and security systems required for Air Force One were unclear.

Boeing had said it expected to add the Air Force One jets to its backlog, which currently numbers 20 planes – five passenger models and 15 freighters.

The redeployment to the Air Force of jets already built for another customer would effectively reduce Boeing’s future 747 production plans by two aircraft. But it would provide a home for two airframes that have been built but remain unsold.

For more about Donald Trump, watch:

The Air Force operates two military versions of the Boeing 747-200B aircraft that serve as Air Force One when the president is aboard. Both are nearing the end of their planned 30-year life.

About the Author
By Reuters
See full bioRight Arrow Button Icon

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Leadership
  • Success
  • Tech
  • Asia
  • Europe
  • Environment
  • Fortune Crypto
  • Health
  • Retail
  • Lifestyle
  • Politics
  • Newsletters
  • Magazine
  • Features
  • Commentary
  • Mpw
  • CEO Initiative
  • Conferences
  • Personal Finance
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map

© 2025 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.


Most Popular

placeholder alt text
Economy
The $38 trillion national debt is to blame for over $1 trillion in annual interest payments from here on out, CRFB says
By Nick LichtenbergDecember 17, 2025
2 days ago
placeholder alt text
AI
Meta’s 28-year-old billionaire prodigy says the next Bill Gates will be a 13-year-old who is ‘vibe coding’ right now
By Eva RoytburgDecember 19, 2025
16 hours ago
placeholder alt text
Success
As graduates face a ‘jobpocalypse,’ Goldman Sachs exec tells Gen Z they need to know their commercial impact 
By Preston ForeDecember 18, 2025
1 day ago
placeholder alt text
Economy
‘This is a wacky number’: economists cry foul as new government data assumes zero housing inflation in surprising November drop
By Eva RoytburgDecember 18, 2025
1 day ago
placeholder alt text
Future of Work
LinkedIn CEO says it's 'outdated' to have a five-year career plan: It's a 'little bit foolish' considering the pace AI is changing the workplace
By Sydney LakeDecember 18, 2025
2 days ago
placeholder alt text
Success
Billionaire who sold two companies to Coca-Cola says he tries to persuade people not to become entrepreneurs: ‘Every single day, you can go bankrupt’
By Dave SmithDecember 19, 2025
12 hours ago

Latest in Tech

Sam Altman looks down and to the side, frowning.
AIOpenAI
Sam Altman says he’s ‘0%’ excited to be CEO of a public company as OpenAI drops hints about an IPO: ‘In some ways I think it’d be really annoying’
By Sasha RogelbergDecember 19, 2025
9 hours ago
AIDebt
AI hyperscalers have room for ‘elevated debt issuance’ — even after their recent bond binge, BofA says
By Jason MaDecember 19, 2025
10 hours ago
Late Apple cofounder Steve Jobs
SuccessCareers
Steve Jobs sold his Volkswagen to raise $1,300 for Apple’s first computer. He became a millionaire just two years later at 23
By Emma BurleighDecember 19, 2025
10 hours ago
Yann LeCun smiles and adjusts his glasses
AIVenture Capital
AI whiz Yann LeCun is already targeting a $3.5 billion valuation for his new startup—and it hasn’t even launched yet
By Dave SmithDecember 19, 2025
10 hours ago
David Baszucki with his thumbs up
SuccessCareer Advice
Roblox CEO David Baszucki went from window cleaner to billionaire tech leader. He says a secret to success has been trusting his gut
By Preston ForeDecember 19, 2025
11 hours ago
Graphite team standing in an office
AICoding
Exclusive: Cursor acquires code review startup Graphite as AI coding competition heats up
By Beatrice NolanDecember 19, 2025
11 hours ago