Airbus's July Scorecard: Orders Cross 1,000 While the Assembly Line Sputters
Published on 08/09/2026 at 06:03 | Redaktion boerse-global.de
The European planemaker's order book keeps swelling even as its delivery pipeline shows fresh strain. Airbus logged 204 gross orders in July, pushing net orders for the year past the 1,000-aircraft threshold — yet handed over just 67 jets to 39 customers during the month, a notable step down from June's 89 and May's 81.
That divergence between commercial momentum and manufacturing output frames a summer of mixed signals for the Toulouse-based group. Year-to-date deliveries now stand at 418, up from 373 at the same point in 2024, and management reaffirmed its target of roughly 870 commercial aircraft for the full year. Chief executive Guillaume Faury clarified last month that the "around 870" figure carries a 20-aircraft buffer in either direction, meaning 850 to 890 units — the same convention Airbus used last year when it hit 793 deliveries against a revised target of "around 790."
A Half-Year of Solid Gains
The July slowdown follows a first half that showed clear operational progress. Airbus delivered 351 commercial jets in the opening six months — 44 A220s, 271 A320-family aircraft, 10 A330s and 26 A350s — a 15 percent improvement on the 306 handed over a year earlier. Revenue climbed 12 percent to EUR 33.176 billion, while adjusted EBIT rose 24 percent to EUR 2.727 billion. Reported EBIT jumped 70 percent to EUR 2.745 billion, helped by stronger civil deliveries and an improved performance in the defence and space division.
The order pipeline shows no sign of cooling. SMBC Aviation Capital committed to 100 A320neo-family jets, Riyadh Air firmed up six additional A350-1000s, and China Eastern placed an order for 25 A330-900s. Saudi low-cost carrier flynas expanded its A330-900 fleet, while BermudAir placed its first-ever Airbus order, for ten A220-300s. Many of these bookings are carry-over effects from the Farnborough International Airshow.
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Buybacks, Profit Targets and a Spanish Headache
Alongside the half-year numbers, the board approved a EUR 5 billion share buyback programme spread over three years and set an EBIT target of EUR 12 to 13 billion for 2029 — a signal that management sees profitability expanding significantly while capital returns to shareholders.
The delivery slowdown in July has a visible cause: industrial action at the Getafe site near Madrid. The independent aviation union SIPA began a strike in early July that ran through the end of the month, with roughly 3,000 of the site's 9,000 employees taking part. The walkout delayed aircraft inspections, technical checks and other work required before handovers. The CCOO union has hinted it could call an indefinite strike after September 7 if the situation does not improve.
Engine supply remains a lingering constraint, though the picture has brightened. Faury said Airbus no longer has delivery-ready aircraft parked solely for lack of Pratt & Whitney engines, but the company is also running without a buffer of those powerplants. Agreed delivery volumes now support the current forecast, though commercial discussions over the earlier reduced engine volumes are still ongoing.
Testing the Future at Farnborough
Airbus used Farnborough to showcase its "Wing of Tomorrow" programme, which envisions folding wingtips on future commercial aircraft so that longer wings can still operate at existing airports. The company also announced a three-year flight-test campaign using an A321neo demonstrator to trial the folding tips in real conditions. Separately, Airbus signed a multi-year supply agreement with Belgian materials specialist Syensqo in early August.
Progress on the A350F freighter continues: the first airframe completed ground vibration testing in Toulouse over three days in June, with flutter tests — pushing the aircraft toward maximum dive speed and Mach number — as the next milestone. Airbus still targets a first flight this year, with certification and initial deliveries ideally following in late 2027 and higher volumes in 2028. Two A350F test aircraft are currently in build.
Shares Near Their Peak
The stock closed Friday at EUR 214.05, up 0.54 percent on the day and roughly 5.42 percent higher over the past seven trading sessions. That leaves the shares about 3.25 percent below their 52-week high of EUR 221.25, reached in January, and around 11.74 percent above their 200-day moving average.
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For investors, the picture is a study in contrasts: an order book that keeps expanding, margins that are widening and capital being returned to shareholders — set against a production system still absorbing the effects of a Spanish strike and an engine supply chain that offers no margin for error. The shares' proximity to record levels suggests the market is currently weighting the positives more heavily than the constraints.
