Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions 
Gold and Silver Prices Slide as Dollar Strength and Easing Tensions Weigh on Metals 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Boeing revealed on Thursday, April 8, that it filed a lawsuit against Air Force One subcontractor named GDC Technics. The aircraft is the official carrier of the U.S. presidents, and said supplier failed to complete its contracts with the plane manufacturer.
The details of the lawsuit
Boeing also canceled its contract with GDC Technics following the suit. As per Reuters, the company is suing because the supplier was not able to finish the interior works on two Boeing Air Force One 747-8 planes that were remodeled.
The Illinois-headquartered aircraft maker said in a statement that its contracts with GDC Technics had been dissolved because it failed to carry out its contractual obligations with Boeing. The Texas-based aircraft modification company did not immediately respond to a request for comment regarding the lawsuit.
Boeing filed the case at Tarrant County District Court in the state of Texas on Wednesday, April 7, and it is seeking compensation for damages that are said to be worth millions of dollars. Additionally, it is demanding the return of some equipment needed to continue the work on the Air Force One planes.
NBC 5 Dallas Fort Worth News reported that Boeing took the issue to court as GDC missed not just one but many deadlines and delivery timetables. The delays caused by GDC also threatened to jeopardize work that is of very high importance to the U.S. Air Force and the president of the United States. Boeing said in the filing that GDC is more or less one year behind schedule.
The contract between Boeing and GDC
It was disclosed that Boeing signed a contract to build two 747-8 planes to be designed for U.S. Air Force use. The deal is worth $3.9 billion, and the delivery date is December 2024. However, it was suggested that GDC is causing some delays. Despite the problem, Boeing’s spokesperson said that the company is still aiming to deliver on time.
GDC Technics contract with Boeing is for the design and building of the Air Force One’s interiors. In 2018, then-president Donald Trump asked for the presidential planes to be upgraded with a new design and color scheme, so Boeing hired GDC for the work requirements.
