Airbus Q1 Miss Masks Strong 2026 Outlook

Airbus reported first-quarter results that, at first glance, look disappointing and even concerning. But that’s not the full picture. The European airframer is confident that it will meet the previously shared guidance of around 870 commercial aircraft deliveries and ramp up production according to plan.

As reported on AirInsight previously, Q1 saw just 114 deliveries, compared with 136 last year. They include 19 A220s, 81 A320neo family, three A330neos, and 11 A350s. At the 2025 results

presentation in February, CEO Guillaume Faury and CFO Thomas Töpfer identified three issues that will impact deliveries this year. The first is the number of Geared Turbofans that Pratt & Whitney is delivering. The second is the panel issue on the A320neo family that requires rework. And the third is the integration of Spirit AeroSystems’ work packages, notably those for the A220 and A350.

GTF
The GTF delivery issue is still unresolved, said Faury. But his tone was different from February, when he showed frustration and said that Airbus would enforce its legal right to keep Pratt & Whitney to its contractual obligations. On today’s media call, Faury said: “We are still in the same situation as in February, with an important disagreement on the number of engines that they should deliver to us. We are negotiating with Pratt & Whitney, negotiating in a way to enforce our right and demonstrating to them why we have expectations.”