Airbus reports Half-Year (H1) 2026 results

(Posted 30th July 2026)

351 commercial aircraft delivered
Revenues € 33.2 billion; EBIT Adjusted € 2.7 billion
EBIT (reported) € 2.7 billion; EPS (reported) € 2.84
Free cash flow before customer financing € -1.2 billion
2026 guidance unchange

Airbus SE reported consolidated financial results for the Half-Year (H1) ended 30th of June 2026.

“Our good H1 results mainly reflect the higher level of commercial aircraft deliveries and strong performance in Defence and Space, against the backdrop of a complex and fast-changing environment,” said Guillaume Faury, Airbus Chief Executive Officer. “We are ramping up across all businesses to meet the growing demand for our civil and military solutions. Our focus on steady execution is paying off, as demonstrated by strong deliveries in Q2. This fuels our confidence in our future performance, as reflected in the recently-communicated mid-term outlook.”

Gross commercial aircraft orders totalled 886 (H1 2025: 494 aircraft) with net orders of 821 aircraft after cancellations (H1 2025: 402 aircraft). The order backlog amounted to 9,222(1) commercial aircraft at the end of June 2026. Airbus Helicopters registered net orders totalling 215 units (H1 2025: 171 units), with an order backlog of 1,108 units at the end of June 2026. Airbus Defence and Space saw very strong commercial momentum, with order intake value reaching € 9.3 billion (H1 2025: € 5.1 billion).

Consolidated revenues increased 12% year-on-year to € 33.2 billion (H1 2025: € 29.6 billion). A total of 351 commercial aircraft were delivered (H1 2025: 306 aircraft), comprising 44 A220s, 271 A320 Family, 10 A330s and 26 A350s. Revenues generated by Airbus’ commercial aircraft activities increased 15% to € 23.9 billion, mainly reflecting the higher deliveries and increased services, partially offset by the US dollar’s depreciation compared to H1 2025. Airbus Helicopters’ deliveries increased to 144 units (H1 2025: 138 units) with revenues broadly stable at € 3.7 billion, reflecting a less favourable delivery mix in the first half of 2026. Revenues at Airbus Defence and Space increased 9% year-on-year to € 6.3 billion, driven by higher volumes across all business units.

Consolidated EBIT Adjusted – an alternative performance measure and key indicator capturing the underlying business margin by excluding material charges or profits caused by movements in provisions related to programmes, restructuring or foreign exchange impacts as well as capital gains/losses from the disposal and acquisition of businesses – totalled € 2,727 million (H1 2025: € 2,204 million).

EBIT Adjusted related to Airbus’ commercial aircraft activities increased to € 1,987 million (H1 2025: € 1,714 million), driven by the higher deliveries partly offset by a less favourable 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, 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.

Airbus Helicopters’ EBIT Adjusted totalled € 240 million (H1 2025: € 249 million), reflecting a solid performance from programmes, offset by higher R&D expenses.

EBIT Adjusted at Airbus Defence and Space increased to € 487 million (H1 2025: € 265 million), supported by favourable cost phasing, improved profitability and higher volumes.

Consolidated self-financed R&D expenses totalled € 1,464 million (H1 2025: € 1,406 million).

Consolidated EBIT(reported) was € 2,745 million (H1 2025: € 1,617 million), including total net Adjustments of € +18 million.

These Adjustments comprised:

€ +124 million related to the dollar working capital mismatch and balance sheet revaluation, of which € +166 million were in Q2. This mainly reflects the phasing impact arising from the difference between transaction date and delivery date;
€ -123 million related to the integration of the former Spirit AeroSystems work packages, of which € -91 million were in Q2;
€ +60 million related to the Airbus Defence and Space workforce adaptation plan, of which € +46 million were in Q2;
€ -43 million of other costs including M&A, of which € -27 million were in Q2.

The financial result was € 186 million (H1 2025: € 490 million), mainly reflecting the revaluation of certain equity investments and of the participations held in the Venture Capital Funds managed by Airbus Ventures. These were partially offset by the revaluation of financial instruments and the evolution of the US dollar. Consolidated net income(2) was € 2,243 million (H1 2025: € 1,525 million) with consolidated reported earnings per share of € 2.84 (H1 2025: € 1.93).

Consolidated free cash flow before customer financing was € -1,166 million (H1 2025: € -1,610 million). This cash outflow was mainly driven by the change in working capital, which notably reflects the planned inventory build-up to support the ramp-up across businesses. Consolidated free cash flow totalled € -1,043 million (H1 2025: € -1,584 million). The gross cash position stood at € 23.4 billion at the end of June 2026 (year-end 2025: € 27.2 billion), with a consolidated net cash position of € 8.4 billion (year-end 2025: € 12.2 billion).

Outlook

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: