This morning, Airbus announced it had delivered 19 aircraft to 15 customers during the month of January and recorded 49 orders over the same period.
These figures represent a 24% year-on-year decrease but are "in line with expectations," according to Jefferies, who considers this level consistent given previously reported delays with GTF engines. The broker notes that this "soft start" therefore comes as no surprise.
According to Jefferies, market attention now remains focused on the 2026 outlook, which should be clarified when the annual results are published. The note indicates that the group may take a more cautious approach, with delivery guidance around 880 aircraft, compared to previous, higher expectations.
The research firm adds that the lack of a clear agreement with Pratt & Whitney regarding engine deliveries for 2026-2027 also fuels concerns about the ramp-up of the A320, with the postponement of the 75-aircraft-per-month rate to 2028 considered a credible scenario by the broker.
Airbus SE is No. 1 in Europe and No. 2 worldwide in the aeronautics, aerospace, and defense industries. Net sales break down by family of products and services as follows:
- commercial aircraft (71.7%). The group is No. 1 worldwide for aircrafts with more than 100 seats;
- defense and aerospace systems (17.3%): military aircrafts (primarily transport aircrafts, marine surveillance aircrafts, anti-submarines fighter planes and flight refueling aircrafts), spatial equipment (orbital launchers, observation and communication satellite, turboprop aircraft, etc.), defense and security systems (missile systems, electronic and telecommunications systems, etc.). Airbus SE also provides training and aircrafts maintenance services;
- civil and military helicopters (11%).
Net sales are distributed geographically as follows: Europe (40.2%), Asia/Pacific (25.6%), North America (23.7%), Middle East (4.5%), Latin America (2.5%) and other (3.5%).
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