The project to build Air Force One aircraft was unprofitable in the third quarter.
Since the start of the build, Boeing's losses on the two jets have increased to nearly $2 billion.
Under the terms of the deal, Boeing bears the cost of any delays.
The company said in its latest earnings report that it lost $766 million on the project to build two planes that will serve as Air Force One.
Since it began, the company's losses have ballooned to nearly $2 billion.
"Supply chain, inflation, labor shortages, macroeconomic challenges are challenging for everybody," the CEO of the US plane maker said during the call to discuss its earnings.
Under a deal with the White House, Boeing will be responsible for any overruns on the project. Donald Trump was involved in the negotiations to reach a fixed price deal.
The "unique" agreement exposed the company to a very unique set of risks that Boeing probably shouldn't have taken. According to an SEC filing, Boeing lost a total of $1.14 billion, including a further $660 million in the first quarter.
Boeing didn't reply to Insider's request for more information.
The project is worth more than $4 billion, according to the company.
The cost of the project was stated by the administration. According to Air Force officials and Pentagon budget documents, the total costs could be over $5 billion.
The first of the new jets, which are not being built from scratch, but from two jetliners, was supposed to enter service in 2024.
The delivery of the two jets could be delayed due to labor shortages and delays caused by interior work on the planes. The program is three years late.
On Wednesday's call, Brian West, Boeing's chief financial officer, said that labor stability had been "magnified" due to the fact that workers need security clearances.
We can do that." Getting the workforce trained and up to speed is what we had to account for.
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