Trump Reportedly Set To Accept ‘Flying Palace’ From Qatar, White House Says Lavish Gift Of Boeing Jumbo Jet Complies With ‘All Applicable Laws’

The Trump administration is preparing to receive a luxurious Boeing 747-8 jumbo jet from Qatar’s royal family.

What Happened: This aircraft is set to become the new Air Force One for President Donald Trump until the conclusion of his term, reported ABC News.

The Boeing Co. BA-manufactured jet, valued at approximately $400 million, will be transferred to the U.S. Air Force for modifications to meet presidential transport standards, reported ABC, citing sources. The plane will eventually be handed over to the Trump Presidential Library Foundation by January 1, 2029.

Legal assessments by the White House and the Department of Justice, as reported by ABC News, concluded that the gift does not violate bribery laws or the Constitution’s emoluments clause, as it is not tied to any official act and will be transferred to the U.S. Air Force.

The White House press secretary, Karoline Leavitt, assured that the gift complies with all legal requirements. Qatar’s media attaché, Ali Al-Ansari, confirmed that the transfer is under consideration by both Qatar’s Ministry of Defense and the U.S. Department of Defense.

“Any gift given by a foreign government is always accepted in full compliance with all applicable laws,” said Leavitt. She said the administration was committed to “full transparency.”

The current Air Force One fleet consists of aging Boeing 747-200 jets, with replacements delayed until 2027. President Trump has expressed frustration over these delays, seeking faster solutions.

See Also: Chinese EV Maker Xpeng Offers Test Drive Of Its ADAS To Tesla CEO Elon Musk After He Xiaopeng Tries FSD

Why It Matters: Trump toured the plane—so lavishly outfitted it’s referred to as “a flying palace”—while it was stationed at West Palm Beach International Airport in February, according to ABC News.

The acquisition of the Boeing 747-8 from Qatar comes amid ongoing delays in the delivery of new Air Force One aircraft by Boeing Co.  Initially scheduled for delivery in 2024, the new jets are now expected to arrive in 2027.

This delay has prompted Trump to explore alternatives, expressing dissatisfaction with Boeing’s timeline. Despite considering other manufacturers, Trump has ruled out Airbus as an option.

Additionally, Tesla and SpaceX CEO Elon Musk has been involved in addressing Boeing’s delivery challenges, highlighting the complexities surrounding the Air Force One project.

Benzinga Edge Stock Rankings places Boeing Momentum in the 84th percentile and Growth in the 12th percentile. Want to see how other aviation stocks compare? Click here.

Price Action: On Friday, Boeing Co. stock closed 1.64% higher at $194.85 in the regular session.

Photo Courtesy: Michael Candelori on Shutterstock.com

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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal