Boeing says it is donating $1 million to Trump presidential inaugural fund

By David Shepardson

WASHINGTON (Reuters) -Boeing is donating $1 million to U.S. President-elect Donald Trump's inauguration, a spokesperson for the U.S. planemaker said on Thursday.

Boeing (NYSE:BA ) is joining many major U.S. companies including General Motors (NYSE:GM ), Ford (NYSE:F ), Microsoft (NASDAQ:MSFT ) and Meta (NASDAQ:META ) in donating for the Jan. 20 event.

The planemaker previously donated $1 million to the last three presidential inaugurations, including Trump's first in 2017.

American Airlines (NASDAQ:AAL ) separately confirmed on Thursday it is also donating $1 million.

In 2016, Trump extracted a promise from Boeing that the cost of replacing Air Force One would not exceed $4 billion, and the company has since lost more than $2 billion on the significantly delayed program to deliver two new presidential aircraft.



Boeing also faces continuing tougher oversight by the Federal Aviation Administration, a year after a door panel missing four key bolts flew off a new Alaska Airlines 737 MAX 9 in mid-air.

Trump's nominee to head the Transportation Department, Sean Duffy, told Reuters last month he wanted to make sure "we have safe planes coming out of Boeing." The FAA announced a new audit of Boeing in October. The Senate Commerce Committee will hold a confirmation hearing for Duffy on Wednesday.

Source: Investing.com