Airbus recorded a significant decrease in its first-quarter financial results for 2026, with adjusted operating profit plummeting by 52% to €300 million, a stark contrast to €624 million reported in the previous year. This downturn was largely attributed to a reduction in commercial aircraft deliveries, a period during which its competitor, Boeing, surpassed Airbus in quarterly handovers. The aerospace giant's revenue also experienced a 7% decline, settling at €12.65 billion, and its earnings per share were reported at 74 euro cents.
During the initial three months of the year, Airbus delivered only 114 commercial jets, a notable decrease from the 136 aircraft delivered in the corresponding period last year. While the defense and space sector demonstrated a 7% growth, and the helicopter division remained stable, the commercial aircraft unit faced an 11% year-over-year sales reduction. Despite these setbacks, Airbus confirmed its commitment to its full-year objectives, aiming for approximately 870 commercial deliveries, an adjusted EBIT of about €7.5 billion, and a free cash flow of around €4.5 billion, excluding customer financing. The company acknowledges that supply chain limitations from engine manufacturer Pratt & Whitney are influencing its delivery forecasts.
Guillaume Faury, the Chief Executive Officer of Airbus, commented on the situation, stating that the company is actively monitoring the potential impacts stemming from the ongoing conflict in the Middle East. He emphasized that the commercial aircraft division is focused on increasing production in line with its plans, while simultaneously addressing the scarcity of Pratt & Whitney engines. Faury also highlighted the defense sector's priority on fulfilling global demand by escalating production across its diverse product and service portfolio.
On a more positive note, new commercial aircraft bookings for the quarter reached 408 on a gross basis, which is almost double the number recorded in the same quarter of the previous year. This surge in orders suggests a resilient demand for Airbus products.
In contrast, Boeing's earlier quarterly results indicated that the manufacturer had surpassed its loss projections, driven by a broad market recovery that included growth in commercial aviation. Boeing has been engaged in a prolonged recovery effort following various quality control issues, most notably a door plug incident on a 737 Max in January 2024, which eroded confidence in its manufacturing standards. The European planemaker has capitalized on its rival's struggles, securing additional orders and expanding its market share as Boeing navigated intense scrutiny over its 737 Max aircraft. Despite regional conflicts, demand for Boeing jets has remained consistent, according to investor updates.
The first quarter of 2026 presented financial challenges for Airbus, marked by a substantial fall in profits and fewer aircraft deliveries. However, the company is actively addressing these issues by managing supply chain constraints, monitoring geopolitical events, and maintaining its strategic full-year targets. The increase in new aircraft orders also provides a promising outlook amidst the competitive landscape and ongoing industry challenges.