Aeronautics

Airbus: net profit up 23% in 2025, but engine delays hold back deliveries and production

European aircraft manufacturer expects delivery of 870 aircraft in 2026 but suffers from delays in engine delivery

by Mara Monti (Toulouse)

19 February 2026

3' min read

Translated by AI

Versione italiana

Key points

The dispute with P&W over engine delivery delays
Panel problem delayed deliveries in January
Defence sector quadrupled profits
Airbus proposal to save the FCAS fighter jet programme

3' min read

Translated by AI

Versione italiana

Airbus, the European aeronautics giant, expects to deliver more aircraft in 2026 at 870 compared to 793 last year, and an adjusted operating profit for the year of around €7.5 billion. In releasing its 2025 financial results, which reported net profits up 23% to €5.221 billion and revenue of €73.420 billion (+6%), the Toulouse-based group warned that delays in the supply of engines for its A320 family are holding back production and aircraft deliveries, prolonging the manufacturer's difficulties in meeting record demand for its best-selling model.

On the Paris Stock Exchange, Airbus dropped 5.3 per cent in early trading, the steepest daily decline so far this year, bringing the overall decline in 2026 to 3.8 per cent.

Dispute with P&W over engine delivery delays

The company stated that monthly production of A320 aircraft will reach 70-75 units by the end of 2027 from the current 60. Airbus has suffered from what CEO Guillaume Faury called a "significant" shortage of engines supplied by Pratt & Whitney, forcing it into a frantic race to meet last year's delivery target, which was then lowered in the final weeks of the year. "Pratt & Whitney's difficulties in committing to deliver the number of engines ordered by Airbus is having a negative impact on this year's forecast and growth trajectory," Airbus said in a statement on Thursday.

The company also stated that production of the smaller A220 model will reach 13 units per month in 2028. Production of the A320 family will stabilise at 75 units per month after 2027, targeting a rate of 5 units for the larger A330 in 2029 and a rate of 12 units for the A350 flagship model in 2028. At the end of 2025, the order book stands at 8,754 aircraft with net orders in the last 12 months for 889 aircraft at the end of last year.

Panel problem delayed deliveries in January

The aircraft manufacturer's deliveries in January and February fell to their lowest level in any month since 2020, marking the weakest start to the year in a decade due to the problem that emerged with the supply of panels for a Spanish operator's A321 family. Meanwhile, American Boeing managed to recover from years of crisis and delivered its highest number of aircraft since 2018.

Defence sector quadrupled profits

In the fourth quarter, the European manufacturer reported a net profit of EUR 2.58 billion and sales increased by 5% to EUR 25.98 billion, according to Airbus. Also in the fourth quarter, the operating profit of Airbus Commercial, the group's largest division, increased by 7 per cent to EUR 2.2 billion, while profits in the Defence and Space division quadrupled to EUR 378 million from EUR 95 million in 2024.

In December, the transfer of supplier Spirit AeroSystem to Airbus for the production of parts for the A350 and A220 was finalised: the cost of this integration was calculated at €188 million of the €100 million recognised in the fourth quarter results. The integration of the company with plants in Europe, the US and Africa will weigh on the free cash flow forecast at EUR 4.5 billion in 2026, up from EUR 4.57 billion last year

Airbus proposes to pay an ordinary dividend of EUR 3.20 for 2025.

Airbus proposal to save the FCAS fighter jet programme

The defence sector, and in particular warplanes, is at the centre of a European dispute over the FCAS programme for which Airbus represents Germany and France in a dispute with France's Dassault Aviation over the ledaership of the main fighter aircraft component. Airbus CEO Guillaume Faury has said he favours a two-fighter solution should governments request it, Plans to replace the Eurofighter and Rafale have been hampered by rivalries with Dassault over the main fighter component, fuelling speculation that the project could be split into two parts.

'We believe that the stalemate on a single pillar should not jeopardise the entire future of this high-tech European operation, which will strengthen our collective defence,' Faury told analysts. 'If required, we would support a solution with two fighters and be committed to playing a leading role.

According to Reuters, Germany is reportedly considering ordering more US-made F-35 fighter jets, as Germany and France have reached an impasse over the Future Combat Air System (FCAS) programme.