Airbus, sharp drop in profits in Q1 with reduced deliveries

No cancellations or requests by airlines to postpone deliveries, despite the fact that the crisis in the Middle East is putting the air transport sector under pressure. This is underlined by Airbus CEO Guillaume Faury, who describes the current operating environment as 'dynamic and complex'. 'We are closely monitoring the potential impact of the rapidly evolving situation in the Middle East,' he said during a call with journalists, noting that 'airlines are reacting in different ways: some are cancelling flights, others are reviewing their networks'.

A difficult picture, but not such as to justify a revision of the annual targets. In fact, Airbus confirms the target of 870 deliveries by December, reaffirming that the answer to the crisis lies in the development of a new generation of more efficient and fuel-efficient aircraft.

Meanwhile, the world's leading aircraft manufacturer closed a complicated first quarter. Adjusted operating profit fell 52 per cent to €300 million from €624 million in the same period of 2025, while revenue fell 7 per cent to €12.65 billion from €13.5 billion a year earlier. The result fell short of analysts' expectations, who estimated an average operating profit of EUR 348 million on revenues of EUR 12.39 billion. Net profit was also down, falling 26% to €586 million. Weighing on the accounts was a drop in deliveries, down 16% to 114 aircraft from 136 in the first quarter of 2025. In addition to confirming its full-year forecasts, the group also reiterated its monthly production target for the A320 family of between 70 and 75 aircraft by the end of 2027, after the downsizing announced in February from the previous target of 75 earlier that year. Last year Airbus had already revised its delivery targets downwards due to the discovery of defective panels in the fuselage of the A320s, which required further inspections and slowed production.

The difficulties continue in the first months of 2026. In fact, delays in engine deliveries by Pratt & Whitney persist, albeit 'improving', to which are added problems in the production of A320 panels by a Spanish supplier. Dysfunctions that, as explained by CFO Thomas Toepfer, will also have an impact on the first half-year results.

In detail, in the first three months of the year Airbus delivered 19 A220s, 81 A320 family aircraft, 3 A330s and 11 A350s. Revenues in the commercial aircraft division decreased by 11% to EUR 8.4 billion, mainly due to a drop in deliveries and the depreciation of the dollar. Bucking the trend was Airbus Defence and Space, whose revenues grew 7% year-on-year to €2.8 billion, driven mainly by higher volumes in the Air Power segment.