The delivery of the first of two Air Force One 747-8s has been delayed from mid-2027 to mid-2028, with Boeing’s (BA) fixed-price development program recording $2.8B in forward losses, including $379M in 2024, due to higher-than-expected costs from engineering changes and schedule delays, though this timeline was likely already contemplated, Jefferies tells investors in a research note. In the meantime, L3Harris (LHX) will perform retrofit modifications on a Qatari 747-8 accepted by the Pentagon in May 2025 to temporarily support the aging Air Force One fleet, the firm says. Jefferies has a Buy rating and $255 price target on Boeing shares.
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