Here's the updated model. Notes November saw 72 deliveries to 42 customers. Last November, there were 84 deliveries. 657 deliveries to 87 customers through November 2025, compared to 643 deliveries in the same period of 2024, showing modest year-over-year growth. Orders totaled 75 aircraft, with Air China Cargo becoming a new customer for the A350F freighter. Airbus recorded 797 total orders for 2025, or a net 700 after cancellations. YTD orders show 2.5 A321s ordered for every A320. For deliveries, the ratio is 1.9. This switch is transformative for Airbus and continues to provide an advantage that Boeing may not overcome in decades. The A220 program is showing some improvements and now accounts for 13% of YTD deliveries. But the orderbook is thin, even as Embraer makes essential wins. Delta has now moved to third place in deliveries, with Indigo and China Southern ahead. Airbus needs to deliver a near-record 133 planes in December to meet its newly revised 2025 goal of 790 aircraft. This is exceptionally challenging given: Airbus delivered 138 aircraft in December 2019, its highest monthly total. In December 2024, the company delivered 123 aircraft. The required December surge would be Airbus's second-highest monthly delivery ever. This is a common view across the industry. While engine deliveries from CFM and Pratt & Whitney have improved throughout 2025, the fuselage panel issue demonstrates ongoing supply chain vulnerabilities in the post-pandemic recovery. Outlook The company faces a steep climb to reach 790 deliveries, requiring exceptional performance in December. However, even missing this target doesn't fundamentally damage Airbus's market position—airlines are competing for delivery slots into the early 2030s, meaning any 2025 shortfall pushes revenue into future years rather than representing lost sales.