Airbus Reports Q1 2026 Results: Delivery Slump Offset by Strong Defense Performance

Global aerospace leader Airbus has released its financial results for the first quarter (Q1) of 2026. Despite supply chain bottlenecks in engine procurement and a decline in delivery numbers, the company has maintained its full-year guidance.

AMSTERDAM – Airbus SE has announced its consolidated financial results for the first quarter ended March 31, 2026. While the costs of production ramp-up in the commercial aircraft segment and engine supply issues weighed on the balance sheet, the Defense and Space division drove profitability.
Deliveries Fall Short of Expectations

Airbus delivered 114 aircraft in the first quarter of 2026, down from 136 units during the same period last year. The delivery mix consisted of 19 A220s, 81 A320 Family aircraft, 3 A330s, and 11 A350s. This decline in deliveries led to a 7% decrease in consolidated revenues, which fell to €12.7 billion.
Engine Shortages Act as a “Speed Bump”

Airbus CEO Guillaume Faury stated that the primary obstacle to commercial aircraft production remains the supply shortage of Pratt & Whitney engines. Faury noted, “The operating environment remains complex. Although disruptions in engine supply are impacting our plans for 2026 and 2027, we are still on track to reach a production rate of 75 A320s per month by the end of 2027.”
Robust Performance in Defense and Space

In contrast to the slowdown in the commercial wing, Airbus Defense and Space had a successful quarter. The division’s order intake reached €5 billion, while its Adjusted EBIT saw a significant year-on-year increase, totaling €130 million.
Q1 2026 Financial Highlights

Adjusted EBIT: €300 Million (Previous year: €624 Million)

Net Cash Position: €9.8 Billion (A 19% decrease due to inventory build-up and production preparations)

Order Backlog: 9,037 aircraft (Proving that demand remains at peak levels)

Free Cash Flow: -€2.5 Billion (Driven by lower delivery volumes and planned inventory ramp-up)

2026 Guidance Reaffirmed

Despite the slower pace in the first quarter, Airbus management has not revised its 2026 targets. By the end of the year, the company aims to achieve:

Approximately 870 commercial aircraft deliveries,

An Adjusted EBIT of approximately €7.5 billion,

A Free Cash Flow of approximately €4.5 billion.