After meeting with President-elect Trump, Boeing CEO says Air Force One will cost less than $4B

WASHINGTON, DC — US President-elect Donald Trump on Wednesday met the CEOs of defense contracting giants Boeing and Lockheed Martin, whose programs he has criticized in recent weeks.

Boeing CEO Dennis Muilenburg — whose company is under contract with the US Air Force to develop and manufacture the next presidential aircraft fleet — said the price will be less than a near-$4 billion estimate.

"We're going to get it done for less than that, and we're committed to working together to make sure that happens," Muilenburg said after meeting at Trump's Mar-a-Lago resort in Palm Beach, Florida.

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NTP: Views from the cockpit of a Boeing 737-800
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NTP: Views from the cockpit of a Boeing 737-800
CAPE TOWN, SOUTH AFRICA - AUGUST 20 (SOUTH AFRICA OUT): A view from the cockpit of a Mango Airlines Boeing 737-800 with captain Lourens Sadler and co-pilot, first officer Mohau Tlhapuletsa during a flight from Cape Town to Lanseria and back on August 20, 2015 in South Africa. The low cost airline Mango is expanding its Lanseria operations with a new route to Durban and an additional early morning flight from Cape Town to Lanseria. The airline said in a press release that the new route and schedule would come into effective on 15 October, with flights on sale from across all distribution channels. The new Lanseria Durban route will see Mango operate an initial twice-daily service in the mornings and late afternoons while a fourth early morning frequency between Cape Town and Lanseria has been added. (Photo by Nardus Engelbrecht/Gallo Images/Getty Images)
CAPE TOWN, SOUTH AFRICA - AUGUST 20 (SOUTH AFRICA OUT): A view from the cockpit of a Mango Airlines Boeing 737-800 with captain Lourens Sadler and co-pilot, first officer Mohau Tlhapuletsa during a flight from Cape Town to Lanseria and back on August 20, 2015 in South Africa. The low cost airline Mango is expanding its Lanseria operations with a new route to Durban and an additional early morning flight from Cape Town to Lanseria. The airline said in a press release that the new route and schedule would come into effective on 15 October, with flights on sale from across all distribution channels. The new Lanseria Durban route will see Mango operate an initial twice-daily service in the mornings and late afternoons while a fourth early morning frequency between Cape Town and Lanseria has been added. (Photo by Nardus Engelbrecht/Gallo Images/Getty Images)
CAPE TOWN, SOUTH AFRICA - AUGUST 20 (SOUTH AFRICA OUT): A view from the cockpit of a Mango Airlines Boeing 737-800 with captain Lourens Sadler and co-pilot, first officer Mohau Tlhapuletsa during a flight from Cape Town to Lanseria and back on August 20, 2015 in South Africa. The low cost airline Mango is expanding its Lanseria operations with a new route to Durban and an additional early morning flight from Cape Town to Lanseria. The airline said in a press release that the new route and schedule would come into effective on 15 October, with flights on sale from across all distribution channels. The new Lanseria Durban route will see Mango operate an initial twice-daily service in the mornings and late afternoons while a fourth early morning frequency between Cape Town and Lanseria has been added. (Photo by Nardus Engelbrecht/Gallo Images/Getty Images)
CAPE TOWN, SOUTH AFRICA - AUGUST 20 (SOUTH AFRICA OUT): A view of Lion's Head from the cockpit of a Mango Airlines Boeing 737-800 with captain Lourens Sadler and co-pilot, first officer Mohau Tlhapuletsa during a flight from Cape Town to Lanseria and back on August 20, 2015 in South Africa. The low cost airline Mango is expanding its Lanseria operations with a new route to Durban and an additional early morning flight from Cape Town to Lanseria. The airline said in a press release that the new route and schedule would come into effective on 15 October, with flights on sale from across all distribution channels. The new Lanseria Durban route will see Mango operate an initial twice-daily service in the mornings and late afternoons while a fourth early morning frequency between Cape Town and Lanseria has been added. (Photo by Nardus Engelbrecht/Gallo Images/Getty Images)
CAPE TOWN, SOUTH AFRICA - AUGUST 20 (SOUTH AFRICA OUT): A view of Table Mountain from the cockpit of a Mango Airlines Boeing 737-800 with captain Lourens Sadler and co-pilot, first officer Mohau Tlhapuletsa during a flight from Cape Town to Lanseria and back on August 20, 2015 in South Africa. The low cost airline Mango is expanding its Lanseria operations with a new route to Durban and an additional early morning flight from Cape Town to Lanseria. The airline said in a press release that the new route and schedule would come into effective on 15 October, with flights on sale from across all distribution channels. The new Lanseria Durban route will see Mango operate an initial twice-daily service in the mornings and late afternoons while a fourth early morning frequency between Cape Town and Lanseria has been added. (Photo by Nardus Engelbrecht/Gallo Images/Getty Images)
CAPE TOWN, SOUTH AFRICA - AUGUST 20 (SOUTH AFRICA OUT): A view of Robben Island from the cockpit of a Mango Airlines Boeing 737-800 with captain Lourens Sadler and co-pilot, first officer Mohau Tlhapuletsa during a flight from Cape Town to Lanseria and back on August 20, 2015 in South Africa. The low cost airline Mango is expanding its Lanseria operations with a new route to Durban and an additional early morning flight from Cape Town to Lanseria. The airline said in a press release that the new route and schedule would come into effective on 15 October, with flights on sale from across all distribution channels. The new Lanseria Durban route will see Mango operate an initial twice-daily service in the mornings and late afternoons while a fourth early morning frequency between Cape Town and Lanseria has been added. (Photo by Nardus Engelbrecht/Gallo Images/Getty Images)
CAPE TOWN, SOUTH AFRICA - AUGUST 20 (SOUTH AFRICA OUT): A view from the cockpit of a Mango Airlines Boeing 737-800 with captain Lourens Sadler and co-pilot, first officer Mohau Tlhapuletsa during a flight from Cape Town to Lanseria and back on August 20, 2015 in South Africa. The low cost airline Mango is expanding its Lanseria operations with a new route to Durban and an additional early morning flight from Cape Town to Lanseria. The airline said in a press release that the new route and schedule would come into effective on 15 October, with flights on sale from across all distribution channels. The new Lanseria Durban route will see Mango operate an initial twice-daily service in the mornings and late afternoons while a fourth early morning frequency between Cape Town and Lanseria has been added. (Photo by Nardus Engelbrecht/Gallo Images/Getty Images)
CAPE TOWN, SOUTH AFRICA - AUGUST 20 (SOUTH AFRICA OUT): A view of the top of Table Mountain from the cockpit of a Mango Airlines Boeing 737-800 with captain Lourens Sadler and co-pilot, first officer Mohau Tlhapuletsa during a flight from Cape Town to Lanseria and back on August 20, 2015 in South Africa. The low cost airline Mango is expanding its Lanseria operations with a new route to Durban and an additional early morning flight from Cape Town to Lanseria. The airline said in a press release that the new route and schedule would come into effective on 15 October, with flights on sale from across all distribution channels. The new Lanseria Durban route will see Mango operate an initial twice-daily service in the mornings and late afternoons while a fourth early morning frequency between Cape Town and Lanseria has been added. (Photo by Nardus Engelbrecht/Gallo Images/Getty Images)
CAPE TOWN, SOUTH AFRICA - AUGUST 20 (SOUTH AFRICA OUT): A view from the cockpit of a Mango Airlines Boeing 737-800 with captain Lourens Sadler and co-pilot, first officer Mohau Tlhapuletsa during a flight from Cape Town to Lanseria and back on August 20, 2015 in South Africa. The low cost airline Mango is expanding its Lanseria operations with a new route to Durban and an additional early morning flight from Cape Town to Lanseria. The airline said in a press release that the new route and schedule would come into effective on 15 October, with flights on sale from across all distribution channels. The new Lanseria Durban route will see Mango operate an initial twice-daily service in the mornings and late afternoons while a fourth early morning frequency between Cape Town and Lanseria has been added. (Photo by Nardus Engelbrecht/Gallo Images/Getty Images)
CAPE TOWN, SOUTH AFRICA - AUGUST 20 (SOUTH AFRICA OUT): A view of Table Mountain from the cockpit of a Mango Airlines Boeing 737-800 with captain Lourens Sadler and co-pilot, first officer Mohau Tlhapuletsa during a flight from Cape Town to Lanseria and back on August 20, 2015 in South Africa. The low cost airline Mango is expanding its Lanseria operations with a new route to Durban and an additional early morning flight from Cape Town to Lanseria. The airline said in a press release that the new route and schedule would come into effective on 15 October, with flights on sale from across all distribution channels. The new Lanseria Durban route will see Mango operate an initial twice-daily service in the mornings and late afternoons while a fourth early morning frequency between Cape Town and Lanseria has been added. (Photo by Nardus Engelbrecht/Gallo Images/Getty Images)
CAPE TOWN, SOUTH AFRICA - AUGUST 20 (SOUTH AFRICA OUT): A view of Table Mountain and Lion's Head from the cockpit of a Mango Airlines Boeing 737-800 with captain Lourens Sadler and co-pilot, first officer Mohau Tlhapuletsa during a flight from Cape Town to Lanseria and back on August 20, 2015 in South Africa. The low cost airline Mango is expanding its Lanseria operations with a new route to Durban and an additional early morning flight from Cape Town to Lanseria. The airline said in a press release that the new route and schedule would come into effective on 15 October, with flights on sale from across all distribution channels. The new Lanseria Durban route will see Mango operate an initial twice-daily service in the mornings and late afternoons while a fourth early morning frequency between Cape Town and Lanseria has been added. (Photo by Nardus Engelbrecht/Gallo Images/Getty Images)
CAPE TOWN, SOUTH AFRICA - AUGUST 20 (SOUTH AFRICA OUT): A view from the cockpit of a Mango Airlines Boeing 737-800 with captain Lourens Sadler and co-pilot, first officer Mohau Tlhapuletsa during a flight from Cape Town to Lanseria and back on August 20, 2015 in South Africa. The low cost airline Mango is expanding its Lanseria operations with a new route to Durban and an additional early morning flight from Cape Town to Lanseria. The airline said in a press release that the new route and schedule would come into effective on 15 October, with flights on sale from across all distribution channels. The new Lanseria Durban route will see Mango operate an initial twice-daily service in the mornings and late afternoons while a fourth early morning frequency between Cape Town and Lanseria has been added. (Photo by Nardus Engelbrecht/Gallo Images/Getty Images)
CAPE TOWN, SOUTH AFRICA - AUGUST 20 (SOUTH AFRICA OUT): A view from the cockpit of a Mango Airlines Boeing 737-800 with captain Lourens Sadler and co-pilot, first officer Mohau Tlhapuletsa during a flight from Cape Town to Lanseria and back on August 20, 2015 in South Africa. The low cost airline Mango is expanding its Lanseria operations with a new route to Durban and an additional early morning flight from Cape Town to Lanseria. The airline said in a press release that the new route and schedule would come into effective on 15 October, with flights on sale from across all distribution channels. The new Lanseria Durban route will see Mango operate an initial twice-daily service in the mornings and late afternoons while a fourth early morning frequency between Cape Town and Lanseria has been addedape Town and Lanseria has been added. (Photo by Nardus Engelbrecht/Gallo Images/Getty Images)
CAPE TOWN, SOUTH AFRICA - AUGUST 20 (SOUTH AFRICA OUT): A view of Table Mountain from the cockpit of a Mango Airlines Boeing 737-800 with captain Lourens Sadler and co-pilot, first officer Mohau Tlhapuletsa during a flight from Cape Town to Lanseria and back on August 20, 2015 in South Africa. The low cost airline Mango is expanding its Lanseria operations with a new route to Durban and an additional early morning flight from Cape Town to Lanseria. The airline said in a press release that the new route and schedule would come into effective on 15 October, with flights on sale from across all distribution channels. The new Lanseria Durban route will see Mango operate an initial twice-daily service in the mornings and late afternoons while a fourth early morning frequency between Cape Town and Lanseria has been added. (Photo by Nardus Engelbrecht/Gallo Images/Getty Images)
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"I was able to give the president-elect my personal commitment on behalf of the Boeing Company. This is a business that's important to us. We work on Air Force One because it's important to our country and we're going to make sure that he gets the best capability and that it's done affordably."

Trump described the cost for Boeing's Air Force contract to develop the next presidential fleet as "out of control" in a December 6 tweet.

"The $4 billion is a theoretical estimate of the life of the program, which is approximately 30 years," a Department of Defense spokesman told Business Insider.

Considering the US Air Force contract with Boeing is in very early stages, it is entirely possible for that figure to be adjusted, the spokesman added.

Trump also met with Lockheed Martin CEO Marillyn Hewson on Wednesday.

On December 12, Trump said the cost for Lockheed Martin's fifth-generation stealth F-35 Lightning II jet was also "out of control."

The message sent Lockheed Martin's stock down from $251 at the opening bell to $245.50, before it rebounded to a little more than $253 a share.

"We're trying to get costs down ... primarily the F-35, we're trying to get the cost down. It's a program that is very, very expensive," Trump said after meeting with several generals and admirals on Wednesday.

Trump said the negotiations with Lockheed Martin were "just beginning" and described it as "a little bit of a dance."

The F-35, valued at an acquisition cost of $379 billion, has become one of the most challenged programs in the history of the Department of Defense. It has experienced setbacks that include faulty ejection seats, software delays, and helmet-display issues.

"This program is not out of control," Lt. Gen. Chris Bogdan, head of the F-35 Joint Program Office, said during a December 19 briefing with reporters, just days after Trump tweeted criticism of the program.

"If given the opportunity I would like to try and explain to the new administration that this is a vastly different program from 2011," Bogdan said. "I'll just lay the facts out on the table and I'll let them make their own judgments because I don't think the program cost wise is out of control nor do I think that it's out of control schedule wise."

On Monday, the F-35 Joint Program Office released the finalized price for the most recent production contract for America's fifth generation stealth fighter. The ninth Low Rate Initial Production (LRIP-9) contract for 57 F-35 jets was valued at $6.1 billion.

In LRIP-9, the price of the Air Force and Marine Corps' variants saw a reduction of $5.9 million and $2.4 million respectively, the Navy model saw an increase of $3.2 million.

Trump and his transition team were not briefed by the F-35 Joint Program prior to the December 12 tweet. Since then, Bogdan said Trump's team has asked for a briefing about the program, though nothing has been scheduled yet.

SEE ALSO: F-35 chief: 'This program is not out of control'

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