United States president-elect Donald Trump has called for the scrapping of multi-billion dollar plans for Boeing to build a new Air Force One.

In a tweet to followers he branded the cost of the project “ridiculous and totally out of control”.

Boeing shares immediately dropped one per cent following the comments.

The US government signed a deal with Boeing earlier this year to build a new aircraft to fly the president once the current one reaches the end of its service life.

The Boeing 747’s built for the project are expected to be the last to enter service.

Two Boeing 747-200 aircraft are currently used and the Boeing deal involves replacing them with two Boeing 747-8 planes.

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!

— Donald J. Trump (@realDonaldTrump) December 6, 2016

In a statement Boeing defended its role in the Air Force One program.

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.

“We look forward to working with the US Air Force on subsequent phases of the program allowing us to deliver the best planes for the President at the best value for the American taxpayer.”