Airbus records dip of 7% YoY with EUR 12.7 bn revenue in Q1 2026
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The company delivered 114 commercial aircraft in Q1 2026. Revenues from commercial aircraft activities also decreased by 11% to EUR 8.4 billion.
Airbus has reported its consolidated financial results for the First Quarter (Q1) ended March 31, 2026, showing a dip in revenues primarily due to fewer commercial aircraft deliveries.
“The operating environment remains dynamic and complex. We are closely monitoring the potential impact from the fast-changing situation in the Middle East,” said Guillaume Faury, Airbus Chief Executive Officer. “In commercial aircraft, we continue to ramp up and produce as per our plan while navigating the shortage of Pratt & Whitney engines. In defence, the focus remains on serving global demand by ramping up production across our portfolio of products and services. Against this backdrop, our guidance for 2026 is unchanged.”
Gross commercial aircraft orders totalled 408 (Q1 2025: 280 aircraft) with net orders of 398 aircraft after cancellations (Q1 2025: 204 aircraft). The order backlog amounted to 9,037 commercial aircraft at the end of March 2026. Airbus Helicopters registered net orders totalling 79 units (Q1 2025: 100 units), with an order backlog of 1,060 units at the end of March 2026.
Consolidated revenues decreased 7% year-on-year to EUR 12.7 billion (Q1 2025: EUR 13.5 billion). A total of 114 commercial aircraft were delivered (Q1 2025: 136 aircraft), comprising 19 A220s, 81 A320 Family, 3 A330s and 11 A350s. Revenues generated by Airbus’ commercial aircraft activities decreased 11% to EUR 8.4 billion, mainly reflecting the lower deliveries and US dollar depreciation. Airbus Helicopters’ deliveries increased to 56 units (Q1 2025: 51 units) with revenues stable at EUR 1.6 billion, reflecting a less favourable delivery mix.
Consolidated EBIT adjusted totalled at EUR 300 million (Q1 2025: EUR 624 million). EBIT Adjusted related to Airbus’ commercial aircraft activities decreased to EUR 81 million (Q1 2025: EUR 494 million), driven by the lower deliveries and an unfavourable hedge rate.
The A220 ramp-up is ongoing and the company continues to target a monthly production rate of 13 aircraft in 2028. On the A320 Family, Pratt & Whitney remains the key pacer of the ramp-up trajectory, impacting both 2026 and 2027. As a result, the Company continues to expect to reach a rate of between 70 and 75 aircraft a month by the end of 2027, stabilising at rate 75 thereafter. The Company continues to target rate 5 for the A330 programme in 2029 and rate 12 for the A350 programme in 2028.
Consolidated self-financed R&D expenses totalled EUR 730 million (Q1 2025: EUR 673 million).
Consolidated EBIT (reported) was EUR 224 million (Q1 2025: EUR 473 million), including net Adjustments of EUR -76 million.
The financial result was EUR 466 million (Q1 2025: EUR 621 million), mainly reflecting the revaluation of certain equity investments. Consolidated net income was EUR 586 million (Q1 2025: EUR 793 million) with consolidated reported earnings per share of EUR 0.74 (Q1 2025: EUR 1.01).
As the basis for its 2026 guidance, the company assumes no additional disruptions to global trade or the world economy, air traffic, the supply chain, its internal operations, and its ability to deliver products and services.
The company’s 2026 guidance is before M&A and includes the impact of currently applicable tariffs. On that basis, the company targets to achieve in 2026 include around 870 commercial aircraft deliveries; EBIT Adjusted of around EUR 7.5 billion; and Free Cash Flow before Customer Financing of around EUR 4.5 billion.
