Editor’s Note: A previous headline mistakenly stated that the Qatari luxury jet is worth $400 billion due to a typographical error.
The U.S. Air Force has reportedly decided to repurpose funds from its Sentinel intercontinental ballistic missile program to retrofit a Qatari luxury jet into an Air Force One.
What Happened: During a Senate appropriations defense subcommittee hearing, Air Force Secretary Troy Meink confirmed the financial shift. He reassured lawmakers that the Sentinel program, which has already been restructured due to major delays and unexpected costs, would not be further delayed due to this reallocation. The program’s estimated cost has soared to nearly $141 billion, 81% above initial projections, reported Defense One on Friday.
Meink explained that the restructuring left some funds “early to need,” which are now being used for the jet conversion. The exact cost of making the Qatari jet fit for presidential use remains undisclosed, but Meink previously estimated it would be around $400 million, significantly lower than the $1 billion figure suggested by other officials.
The retrofit is expected to take “just short of a year” once the Air Force takes possession of the jet. Meink did not comment on plans to hand over the jet to President Trump post-presidency, but emphasized the need for the modification due to the current VC-25’s readiness challenges.
The Trump administration has reportedly selected L3Harris (NYSE:LHX) to modify the Qatari jet. While Meink did not confirm whether a formal contract has been signed, he noted that they have "discussed it" with the contractor.
The White House and the US Air Force did not immediately respond to Benzinga’s request for comment.
Why It Matters: The conversion of a Qatari 747 jet into the new Air Force One for President Donald Trump could cost over $1 billion and take several years, according to aviation experts in May. The refurbishment of the commercial plane, currently valued at $400 million, would exceed its present worth.
Former Vice President Mike Pence has urged Trump to reject the controversial $400 million Boeing Co. (NYSE:BA) 747-8 jumbo jet gift from Qatar's royal family, citing national security risks and ethical concerns over what would be the largest foreign gift ever received by the U.S. government.
At the same time, economist Peter Schiff has warned that Qatar's massive $200 billion jet deal with Boeing Co. could spike U.S. inflation and interest rates.
On a year-to-date basis, Boeing stock surged 22.06%, while L3 Harris climbed 21.16%, as per Benzinga Pro.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
