Airbus Revenues Up 12% in H1 2026 Driven by Commercial Deliveries and Defence
Airbus has reported its consolidated financial results for the first half ended June 30, 2026. The company closed the first six months of the financial year with a consolidated net income of €2,243 million (compared to €1,525 million in H1 2025), representing earnings per share (EPS) of €2.84.
“Our solid first-half results mainly reflect higher commercial aircraft deliveries and strong performance in Defence and Space, against the backdrop of a complex and fast-evolving environment,” said Guillaume Faury, Airbus Chief Executive Officer. “We are ramping up production across all business lines to meet growing demand for our civil and military solutions. Our focus on consistent execution is paying off, as demonstrated by strong second-quarter deliveries.”
Consolidated Adjusted EBIT—a key metric measuring underlying operating margin excluding provisions for programs, restructuring, or foreign exchange fluctuations—stood at €2,727 million, up from €2,204 million reported in the same period of 2025.
Divisional Breakdown
1. Commercial Aircraft: Deliveries On the Rise and Record Backlog
Revenues generated by commercial aircraft activities increased by 15% year-on-year to €23,900 million (H1 2025: €20,800 million), driven by a higher delivery rate and growth in the services division.
During the first six months of 2026, Airbus delivered 351 commercial aircraft (compared to 306 in H1 2025), broken down as follows:
- Airbus A220: 44 units
- Airbus A320 Family: 271 units
- Airbus A330: 10 units
- Airbus A350: 26 units
Commercial Adjusted EBIT rose to €1,987 million (H1 2025: €1,714 million). On the commercial front, Airbus booked 886 gross orders and 821 net orders after cancellations (compared to 402 net orders in H1 2025). Consequently, the order backlog reached 9,222 commercial aircraft at the end of June 2026.
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2. Airbus Helicopters: Solid Performance and R&D Investment
The helicopter division recorded 144 deliveries (H1 2025: 138 units). Revenues remained stable at €3,700 million, impacted by a less favorable delivery mix during the first half of the year.
Airbus Helicopters Adjusted EBIT totaled €240 million (H1 2025: €249 million), reflecting solid execution offset by an increase in self-funded Research and Development (R&D) expenses, which rose to €1,464 million on a consolidated level (H1 2025: €1,406 million). The division booked 215 net orders, bringing its accumulated backlog to 1,108 units.
3. Airbus Defence and Space: Strong Commercial Momentum
The Defence and Space division demonstrated strong commercial momentum, securing order intake worth €9,300 million, representing a substantial increase compared to €5,100 million in H1 2025.
Division revenues rose 9% to €6,300 million, while Adjusted EBIT advanced significantly to €487 million (H1 2025: €265 million), supported by a favorable cost phasing, enhanced profitability, and higher volumes across all business units.
Production Roadmaps
Airbus reaffirms its production ramp-up targets across all commercial programs:
- A220: Maintain the target to reach a monthly production rate of 13 aircraft in 2028.
- A320 Family: The trajectory toward a rate of 70 to 75 aircraft per month by the end of 2027 remains unchanged, stabilizing at rate 75 thereafter.
- A330: Targeting a monthly rate of 5 aircraft in 2029.
- A350: Targeting a monthly rate of 12 aircraft in 2028.
Cash Flow and Financial Position
Free Cash Flow (FCF) before customer financing stood at -€1,166 million (H1 2025: -€1,610 million). The cash burn primarily reflected working capital requirements stemming from the planned inventory build-up to support production ramp-ups. Consolidated FCF totaled -€1,043 million.
As of June 30, 2026, gross cash stood at €23,400 million, while the consolidated net cash position was €8,400 million (compared to €12,200 million at year-end 2025).
Full-Year 2026 Financial Outlook
Airbus reaffirms its guidance for the full year 2026, assuming no further disruptions to the world economy, global trade, air traffic, supply chains, or internal operations. Targets before M&A operations are:
- Commercial aircraft deliveries: Approximately 870 commercial aircraft.
- Adjusted EBIT: Around €7,500 million.
- Free Cash Flow before customer financing: Around €4,500 million.
The strong operational performance recorded in the first half of the year underpins Airbus’ strategy to achieve its medium-term financial and production targets in a dynamic global aerospace environment.
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