Airbus Board Shake-Up Lands Alongside September Delivery Beat and Spanish Strike Truce

Airbus names Amparo Moraleda board chair as September jet handovers of about 72 beat analyst estimates; Spanish staff accept dispute deal.

Airbus has reshuffled the top of its supervisory board just as its commercial engine room shows fresh signs of life. Amparo Moraleda has taken over the chair from René Obermann, who steps down after eight years at the helm of the board to devote his attention to his duties at software group SAP. The handover followed a meeting of the supervisory board, and it lands in the middle of a quarter that will decide whether the planemaker hits its full-year targets.

To cover the remainder of Obermann's term, the board co-opted ASML chief Christophe Fouquet, who intends to seek a regular three-year mandate at the 2027 annual general meeting. Jean-Pierre Clamadieu will not stand for re-election in 2027, and Michelin boss Florent Menegaux is to be put forward as his successor. Mark Dunkerley takes on the role of Lead Independent Director as well as the chairmanship of the nomination and remuneration committee.

September Handovers Outrun Expectations

The governance changes coincide with a marked acceleration in aircraft handovers. Airbus delivered roughly 72 commercial jets in September, according to a Reuters report, beating the mid-to-high 60s that several analyst houses had pencilled in; Jefferies had modelled 68 aircraft. The stock responded on Friday with a gain of 2.4%, changing hands at EUR 190.74.

That puts the September tally close to the 73 units handed over in the same month a year earlier. Airbus is due to publish its official monthly order and delivery data on 8 October.

The late surge matters because the production rhythm had been hampered by supply-chain bottlenecks in engines and components, along with extra inspections of A321neo fuselage sections. Hitting the informal full-year target of around 870 jets, unofficially framed as a range of 850 to 890 aircraft, will hinge on the closing quarter. The shares remain 14% below their 52-week high of EUR 221.25.

A330 Checks Cleared, EASA Guidance Pending

Relief is emerging on the A330 programme. After a tool left behind in the horizontal stabiliser of one aircraft was discovered during the summer, Airbus said all jets in current production have been inspected and are cleared for delivery again. The European Union Aviation Safety Agency sees no immediate safety risk for the in-service fleet, with final inspection requirements for scheduled maintenance intervals expected by mid-November.

Spanish Workforce Backs Deal, Ending Months of Disruption

On the labour front, Airbus's Spanish employees have accepted the compromise proposal to settle their industrial dispute. Turnout in the referendum reached 87%, with workers voting yesterday in favour of adopting the agreement, Reuters reported. That brings an end to months of recurring walkouts at the Spanish sites, which had weighed on the group's operational flow.

For management, the vote removes a significant burden on the production front. The company faces a demanding final quarter in which delivery numbers must traditionally be ramped up to meet annual objectives. The stock had come under pressure in the markets, closing Thursday's session down 1.9% at EUR 186.36.

Twenty A321neo Handovers Pushed Into Q4

The pacification of the Spanish workforce arrives during a stretch of heightened operational demands. A quality issue with A321neo fuselage components has pushed a cumulative 20 deliveries into the fourth quarter, according to Reuters. The component in question was identified and contained, and there was no safety risk, the company said. Reports indicate the matter affects around 500 aircraft in service and in production.

Despite the delays, management is sticking to its delivery plans. Lars Wagner, who heads the commercial aircraft business, voiced strong confidence on Tuesday that the full-year goal of around 870 commercial aircraft for 2026 would be met. Barely a week earlier, the group had already reaffirmed its annual targets.

A350F Takes Flight as Bangladesh Weighs Order

Away from narrowbody production, Airbus reported progress in the widebody segment. The new A350F freighter completed its maiden flight on Tuesday. By the end of August, the cargo model had accumulated 115 orders from 14 named customers, with entry into service planned for the second half of 2027.

New fleet orders are also taking shape. The government of Bangladesh is reportedly considering the purchase of ten Airbus aircraft for Biman Bangladesh Airlines, including four A350-900s and six A321neos. An agreement could be reached as early as October, though the arrangement is currently a negotiating proposal rather than a firm order.

With the Spanish labour dispute now settled, at least one major uncertainty hanging over the manufacturing chain has been cleared. The shares are trading 16% below their 52-week high of EUR 221.25.