(Posted 29th October 2026)
- 547 commercial aircraft delivered
- Revenues € 50.6 billion; EBIT Adjusted € 4.5 billion
- EBIT (reported) € 4.6 billion; EPS (reported) € 4.54
- Free cash flow before customer financing € -1.3 billion
- 2026 guidance unchanged
Airbus SE (stock exchange symbol: AIR) reported consolidated financial results for the nine months ended 30 September 2026.
“These nine-month results reflect the upward trajectory of our civil and military ramp-up, supported by strong demand for our products across the entire portfolio,” said Airbus CEO Guillaume Faury. “Against a complex geopolitical and operating environment, we are focused on delivery while maintaining a steadfast focus on quality. Our plan is clear, and our teams are onboard to meet our objectives.”
Gross commercial aircraft orders totalled 1,174 (9m 2025: 610 aircraft) with net orders of 1,105 aircraft after cancellations (9m 2025: 514 aircraft). The order backlog amounted to 9,310(1) commercial aircraft at the end of September 2026. Airbus Helicopters registered net orders totalling 311 units (9m 2025: 306 units), with an order backlog of 1,122 units at the end of September 2026. Airbus Defence and Space saw very strong commercial momentum, with order intake value reaching € 11.5 billion (9m 2025: € 6.8 billion).
Consolidated revenues increased 7% year-on-year to € 50.6 billion (9m 2025: € 47.4 billion). A total of 547 commercial aircraft were delivered (9m 2025: 507 aircraft), comprising 68 A220s, 428 A320 Family, 13 A330s and 38 A350s. Revenues generated by Airbus’ commercial aircraft activities increased 8% to € 36.7 billion, mainly reflecting the higher deliveries and increased services, partially offset by the weaker US dollar. Airbus Helicopters’ deliveries increased to 226 units (9m 2025: 218 units) with revenues broadly stable at € 5.6 billion, reflecting a less favourable delivery mix in the first nine months of 2026. Revenues at Airbus Defence and Space increased 5% year-on-year to € 9.3 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 € 4,495 million (9m 2025: € 4,146 million).
EBIT Adjusted related to Airbus’ commercial aircraft activities increased to € 3,362 million (9m 2025: € 3,270 million), driven by the higher deliveries partly offset by higher R&D and 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 € 445 million (9m 2025: € 495 million), reflecting the less favourable delivery mix.
EBIT Adjusted at Airbus Defence and Space increased to € 672 million (9m 2025: € 420 million), reflecting higher volumes and better profitability across all business units.
Consolidated self-financed R&D expenses totalled € 2,327 million (9m 2025: € 2,145 million).
Consolidated EBIT (reported) was € 4,550 million (9m 2025: € 3,365 million), including total net Adjustments of € +55 million.
These Adjustments comprised:
- € +270 million related to the dollar working capital mismatch and balance sheet revaluation, of which € +146 million were in Q3. This mainly reflects the phasing impact arising from the difference between transaction date and delivery date;
- € -235 million related to the integration of the former Spirit AeroSystems work packages, of which € -112 million were in Q3;
- € +60 million related to the Airbus Defence and Space workforce adaptation plan, unchanged since Q2;
- € -40 million of other costs including M&A, of which € +3 million were in Q3.
The financial result was € 155 million (9m 2025: € 374 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 € 3,587 million (9m 2025: € 2,641 million) with consolidated reported earnings per share of € 4.54 (9m 2025: € 3.34).
Consolidated free cash flow before customer financing was € -1,268 million (9m 2025: € -914 million). This cash outflow was mainly driven by the change in working capital, which notably reflects the inventory build-up linked to the back-end loaded delivery profile as well as the planned ramp-up across businesses. Consolidated free cash flow totalled € -1,108 million (9m 2025: € -778 million). The gross cash position stood at € 21.9 billion at the end of September 2026 (year-end 2025: € 27.2 billion), with a consolidated net cash position of € 7.0 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:
- Around 870 commercial aircraft deliveries;
- EBIT Adjusted of around € 7.5 billion;
- Free Cash Flow before Customer Financing of around € 4.5 billion.
