Officials have said the next Air Force One jets are estimated to begin operations in fiscal 2023. The Air Force expects the planes to have the range to fly between continents and comparable interiors to the current 747, whose features include work and sleeping quarters for the president and first family.
But it seems President-Elect Trump has other ideas, and it now seems that “aerospace is the new pharma” when it comes to Twitter-based risk factors.
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
Indicatively, according to Politico, the Air Force said previously that it had earmarked $1.65 billion for two new presidential aircraft, which will be four-engine Boeing 747-8s.
In any case, algos reacted immediately as follows:
As a reminder, Boeing is 5.5% of The Dow, and with Ex-Im bank on the wires (defending its existence), we note that Boeing’s employee base is near the lowest since 1993:
Boeing: Number of Employees: pic.twitter.com/diDPzXpizv
— Michael McDonough (@M_McDonough) December 6, 2016
And then, moments later, “negotiating” Boeing’s pricing strategy, Trump said that “we want Trump to make a lot of money, but not that much money”
Trump on Boeing/Air Force One tweet: “The plane is totally out of control…we want Boeing to make a lot of money, but not that much money” pic.twitter.com/OnEuw8hfUM
— CNBC Now (@CNBCnow) December 6, 2016
What happens next? This sums things up nicely:
“everyone had a plan until the President Tweeted out that the stock market was in a big fat ugly bubble”
— StockCats (@StockCats) December 6, 2016
This article is brought to you courtesy of ZeroHedge.