Elon Musk is working with Boeing to deliver Air Force One replacements

Boeing is working with Trump advisor Elon Musk on ways to deliver delayed, overbudget Air Force One replacements sooner, CEO Kelly Ortberg said Tuesday.

The pair of Boeing 747s that will serve as the next Air Force One aircraft are more than $2 billion over budget and years late, which the company has attributed to design changes, labor constraints and supply chain problems. President Donald Trump struck a deal for the aircraft during his first term, after threatening to “cancel order!” before he took office in 2017, complaining about high costs.

“We’ve been engaged with Elon” on the Air Force One program to eliminate costs and deliver the aircraft earlier, Ortberg said in an interview with CNBC’s Phil Lebeau on “Squawk on the Street” on Tuesday, after releasing full-year results and its 2025 outlook.

It is not clear whether the aircraft will be delivered before Trump’s current term is up. An Air Force spokesperson told CNBC that an updated delivery schedule from Boeing is expected in the spring.

Trump cut a cake adorned with a model of Air Force One — in a new paint scheme — with a sword at his Jan. 20 inaugural ball.

Musk, whose company SpaceX competes with Boeing’s space unit, has worked closely with Trump in recent months. The billionaire is also heading Trump’s commission that he tasked with reducing government spending.

Musk and the White House didn’t immediately comment.

“The president wants those planes sooner so we’re working with Elon to see what can we do to pull up the schedule of those programs,” Ortberg said.

Boeing in the last quarter took $1.7 billion in pretax charges in its defense and space unit, including for the Air Force One program. Ortberg, who became CEO in August, replaced the head of that business in September with an internal, interim leader.