Airbus reports Nine-Month (9m) 2026 results
Amsterdam, the Netherlands, 28 October 2026 – 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:
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:
Note to editors: Live Webcast of the Analyst Conference Call
At 19:30 CET on 28 October 2026, you can follow the 9m 2026 Results Analyst Conference Call via the Airbus website at https://www.airbus.com/en/investors. The analyst call presentation can also be found on the website. A recording will be made available in due course. For a reconciliation of Airbus’ KPIs to “reported IFRS” please refer to the analyst presentation.
Consolidated Airbus – Nine-Month (9m) 2026 Results
(Amounts in Euros)
Consolidated Airbus
9m 2026
9m 2025
Change
Revenues, in millions
thereof defence, in millions
50,645
9,310
47,436
9,202
+7%
+1%
EBIT Adjusted, in millions
4,495
4,146
+8%
EBIT (reported), in millions
4,550
3,365
+35%
Research & Development expenses, in millions
2,327
2,145
+8%
Net Income(2), in millions
3,587
2,641
+36%
Earnings Per Share
4.54
3.34
+36%
Free Cash Flow (FCF), in millions
-1,108
-778
Free Cash Flow before Customer Financing, in millions
-1,268
-914
Consolidated Airbus
30 Sept. 2026
31 Dec. 2025
Change
Net Cash position, in millions of Euros
7,042
12,171
-42%
Number of employees
171,027
165,294
+3%
By Business Segment
Revenues
EBIT (reported)
(Amounts in millions of Euros)
9m 2026
9m 2025
Change
9m 2026
9m 2025
Change
Airbus
36,665
33,886
+8%
3,378
2,556
+32%
Airbus Helicopters
5,646
5,652
445
495
-10%
Airbus Defence and Space
9,341
8,876
+5%
711
353
+101%
Eliminations
-1,007
-978
-39
Total
50,645
47,436
+7%
4,550
3,365
+35%
By Business Segment
EBIT Adjusted
(Amounts in millions of Euros)
9m 2026
9m 2025
Change
Airbus
3,362
3,270
+3%
Airbus Helicopters
445
495
-10%
Airbus Defence and Space
672
420
+60%
Eliminations
-39
Total
4,495
4,146
+8%
By Business Segment
Order Intake (net)
Order Book
9m 2026
9m 2025
Change
30 Sept. 2026
30 Sept. 2025
Change
Airbus, in units
1,105
514
+115%
9,310(1)
8,665
+7%
Airbus Helicopters, in units
311
306
+2%
1,122
981
+14%
Airbus Defence and Space, in millions of Euros
11,474
6,753
+70%
N/A
N/A
N/A
Consolidated Airbus – Third Quarter (Q3) 2026 Results
(Amounts in Euros)
Consolidated Airbus
Q3 2026
Q3 2025
Change
Revenues, in millions
17,469
17,826
-2%
EBIT Adjusted, in millions
1,768
1,942
-9%
EBIT (reported), in millions
1,805
1,748
+3%
Net Income(2), in millions
1,344
1,116
+20%
Earnings Per Share
1.70
1.41
+21%
By Business Segment
Revenues
EBIT (reported)
(Amounts in millions of
Euros)
Q3 2026
Q3 2025
Change
Q3 2026
Q3 2025
Change
Airbus
12,788
13,057
-2%
1,428
1,325
+8%
Airbus Helicopters
1,966
1,959
205
246
-17%
Airbus Defence and Space
3,025
3,063
-1%
169
192
-12%
Eliminations
-310
-253
-15
Total
17,469
17,826
-2%
1,805
1,748
+3%
By Business Segment
EBIT Adjusted
(Amounts in millions of Euros)
Q3 2026
Q3 2025
Change
Airbus
1,375
1,556
-12%
Airbus Helicopters
205
246
-17%
Airbus Defence and Space
185
155
+19%
Eliminations
-15
Total
1,768
1,942
-9%
Q3 2026 revenues decreased slightly by 2%, mainly reflecting the lower volume of commercial aircraft deliveries partially offset by a higher services contribution.
Q3 2026 EBIT Adjusted decreased by 9%. It mainly reflects the lower volume of commercial aircraft deliveries and a less favourable mix both at Commercial Aircraft and Airbus Helicopters, as well as the integration of the former Spirit AeroSystems work packages. Those were slightly offset by a stronger performance at Airbus Defence and Space.
Q3 2026 EBIT (reported) of € 1,805 million included net Adjustments of € +37 million. Net Adjustments in the third quarter of 2025 amounted to € -194 million.
Q3 2026 net income(2) of € 1,344 million reflects the EBIT (reported), € -31 million from the financial result and € -439 million from income tax.
EBIT (reported) / EBIT Adjusted Reconciliation
The table below reconciles EBIT (reported) with EBIT Adjusted.
Consolidated Airbus
(Amounts in millions of Euros)
9m 2026
EBIT (reported)
4,550
thereof:
$ working capital mismatch and balance sheet revaluation
+270
Former Spirit AeroSystems work packages integration
-235
Airbus Defence and Space workforce adaptation plan
+60
Others
-40
EBIT Adjusted
4,495
Glossary
KPI
DEFINITION
EBIT
The Company continues to use the term EBIT (Earnings before interest and taxes). It is identical to Profit before finance cost and income taxes as defined by IFRS Rules.
Adjustment
Adjustment, an alternative performance measure, is a term used by the Company which includes 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.
EBIT Adjusted
The Company uses an alternative performance measure, EBIT Adjusted, as a 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.
EPS Adjusted
EPS Adjusted is an alternative performance measure of a basic earnings per share as reported whereby the net income as the numerator does include Adjustments. For reconciliation, see the Analyst presentation.
Gross cash position
The Company defines its consolidated gross cash position as the sum of (i) cash and cash equivalents and (ii) securities (all as recorded in the Consolidated Statement of Financial Position).
Net cash position
The Company defines its consolidated net cash position as the sum of (i) cash and cash equivalents and (ii) securities, minus (iii) financing liabilities, plus or minus (iv) interest rate contracts related to fair value hedges (all as recorded in the Consolidated Statement of Financial Position).
Free Cash Flow (FCF)
An alternative performance measure and key indicator which allows the Company to measure the amount of cash flow generated by its operations. The Company defines free cash flow as the sum of (i) cash provided by operating activities and (ii) investments in intangible and fixed assets (net) & dividends paid by companies valued at equity, minus (iii) contribution to plan assets of pension schemes, (iv) realised foreign exchange results on treasury swaps and (v) change in cash from changes in consolidation.
FCF before Customer Financing
FCF before Customer Financing refers to free cash flow adjusted for cash flow related to aircraft financing activities. It is an alternative performance measure and indicator used by the Company in its financial guidance.
Footnotes:
Safe Harbour Statement:
This press release includes forward-looking statements. Words such as “anticipates”, “believes”, “estimates”, “expects”, “intends”, “plans”, “targets”, “projects”, “may” and similar expressions are used to identify these forward-looking statements. Examples of forward-looking statements include statements made about strategy, production ramp-up and delivery schedules, introduction of new products and services and market expectations, as well as statements regarding future performance, prospects and outlook. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
These factors include but are not limited to:
As a result, Airbus SE’s actual results may differ materially from the plans, goals and expectations set forth in such forward-looking statements.
For more information about the impact of the Macroeconomic Environment, see Note 3 “Geopolitical and Macroeconomic Environment" of the Notes to the Airbus SE Unaudited Condensed Interim IFRS Consolidated Financial Statements for the nine-month period ended 30 September 2026 published 28 October 2026 (the “Financial Statements”). For more information about factors that could cause future results to differ from such forward-looking statements, please refer to Airbus SE’s most recent Report of the Board of Directors published on 19 February 2026 (including the most recent Risk Factors), the Financial Statements and the Notes thereto. Any forward-looking statement contained in this press release speaks as of the date of this press release. Airbus SE undertakes no obligation to publicly revise or update any forward-looking statement in light of new information, future events or otherwise.
This press release is prepared in accordance with legacy standards (primarily IAS 1) and IFRS 18 has not been early-adopted.
Rounding disclaimer
Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.
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Guillaume Steuer
AIRBUS
+33 6 73 82 11 68
guillaume.steuer@airbus.com
Rod Stone
AIRBUS
+33 6 30 52 19 93
rod.stone@airbus.com
Philippe Gmerek
AIRBUS
+33 6 13 19 37 27
philippe.gmerek@airbus.com
Justin Dubon
AIRBUS | Commercial Aircraft
+33 6 74 97 49 51
justin.dubon@airbus.com
Laurence Petiard
AIRBUS | Helicopters
+33 6 18 79 75 69
laurence.petiard@airbus.com
Gudrun Herrmann
AIRBUS | Defence and Space
+49 171 161 4180
gudrun.herrmann@airbus.com
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