United States President-elect Donald Trump on Tuesday demanded the cancellation of a contract awarded to Boeing to build a brand new Air Force One for future presidents, AFP reported. The Republican said the increasing costs, estimated over $ 4 billion (approximately Rs 2,711 crore), was “out of control and ridiculous”.

On Twitter, Trump said, “Boeing is building a brand new 747 Air Force One for future presidents, but costs are out of control, more than $4 billion. Cancel order!”

Speaking to reporters at the Trump Tower in Manhattan, he said, “I think Boeing is doing a little bit of a number. We want Boeing to make a lot of money, but not that much money.”

The estimated cost in January 2015 was around $3 billion when the contract was awarded to the company to convert a pair of 747-8 jumbo jets to state-of-the-art luxury command centres by 2024. The current crafts were ordered by former President Ronald Reagan in the 1990s.

The project to identify ways to reduce costs on the new presidential aircrafts itself cost $25.7 million.

A statement issued by the company said, “We are currently under contract for $170 million to help determine the capabilities of these complex military aircraft that serve the unique requirements of the President of the United States.” The manufacturer said it was looking forward to delivering “the best planes for the president at the best value for the American taxpayer.” It did not comment on Trump’s statements.

In 2009, incumbent Barack Obama had suspended work on the presidential Marine One helicopters replacement as the costs had increased.