Airbus CEO Guillaume Faury on Earnings, Delivery Delays, and Future Ambitions

Financial Performance and Delivery Targets

• 📊 Airbus reported strong third-quarter adjusted EBITE that beat estimates, but deliveries remain significantly backloaded.
• 🎯 The company is sticking to its target of delivering 820 aircraft this year, despite having delivered only 57 through September.
• ⏳ Confidence in hitting the target stems from preparedness and the expected availability of engines for single-aisle aircraft in the final quarter.

Supply Chain Bottlenecks and Engine Availability

• ⚠️ The availability of engines from CFM and Pratt & Whitney is identified as the primary bottleneck for A320 family aircraft.
• ✈️ While improving, persistent tensions on engine availability are expected to continue into 2026 and 2027.
• 🏭 Airbus is ramping up production globally, with a new final assembly line for the A320 in Mobile, Alabama, making it a significant production hub.

Production Ramp-Up and A220 Program

• 📈 Production for the A220 aircraft is not being reduced but its ramp-up speed is being adjusted, moving from rate 6 to a target rate of 12 by next year.
• 🧩 Integrating work packages from Spirit and introducing engine improvements are key challenges in the A220 ramp-up.

Defense and Space Ambitions

• 🛡️ The defense business is seen as a midterm to long-term growth story, driven by Europe's increased focus on self-defense and rising defense budgets.
• 🚀 Airbus is merging operations with regional peers like Thales and Leonardo to create a European player capable of competing with SpaceX and Starlink in the space sector, with a target launch in 2027.
• ⚖️ This new European space venture will need to navigate antitrust and regulatory processes to ensure compliance with global regulations.