Are Boeing chief, Trump too cozy?

How close is too close for CEO’s access to president?

Few companies have been as successful as Boeing Co. in building a cozy relationship with President Donald Trump. The question is how close is too close.

The company found itself in an awkward position this week after a report that Chief Executive Officer Dennis Muilenburg had listened in on a phone call last month between Trump and the Air Force general managing purchases of Lockheed Martin’s F-35 fighter jets. The president, who visited a Boeing plant Friday, has repeatedly criticized the plane for its high costs while suggesting Boeing’s F/A-18 Super Hornet might be a cheaper alternative.

The call, made via speakerphone in Trump’s New York office, appeared to catch Muilenburg off-guard. Yet the unusual situation, raising questions of the integrity of the government bidding process, highlights the perils executives face in trying to navigate Trump’s unorthodox style. By listening in, Muilenburg potentially could have heard information “related to Lockheed that may not otherwise be available to Boeing,” said George Brenkert, a professor of business ethics at Georgetown University.

In such a scenario, Muilenburg may need to simply walk out of the room, said Brenkert, who called it an ethical “test situation.”

Representatives of Boeing and Lockheed declined to comment.

Lt. Gen. Chris Bogdan, who was on the other end of Trump’s call, on Thursday defended the discussion. After a hearing before a House subcommittee, Bogdan said there was nothing “inappropriate” about Boeing’s involvement because “the things I talked about in front of Mr. Muilenburg were clearly publicly releasable information.”

The Jan. 17 call was primarily to discuss F-35 affordability, the capabilities of the jet relative to Boeing’s Super Hornet and the Air Force One program, Bogdan said.

Since the election, Trump has sought to capitalize on his master negotiator image to both criticize and praise individual companies for actions they take affecting American workers. At times he has called out manufacturers for shipping jobs overseas, praised automakers for building in the U.S. and even slammed retailer Nordstrom Inc. for dropping his daughter Ivanka’s brand.

Boeing was one of those targets. In December, Trump lamented the cost of new Air Force One planes in a tweet with the threat, “Cancel order!” Much was at stake. Not only is Boeing the contractor for the new Air Force One fleet but it’s also the second-largest U.S. defense contractor, behind Lockheed.

Since then, Boeing has managed to get on the administration’s good side. Muilenburg was named to Trump’s manufacturing council, establishing a direct line to the Oval Office. Boeing could earn another victory with the possible re-opening of the U.S. Export-Import Bank for financing large deals.

Muilenburg hosted Trump on Friday for the rollout of its 787-10 Dreamliner at a South Carolina factory, where the president said the U.S. is “looking seriously at a big order” of Super Hornets.