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Gross commercial aircraft orders totalled 1,000 (2024: 878 aircraft) with net orders of 889 aircraft after cancellations (2024: 826 aircraft). The order backlog amounted to a year-end record of 8,754 commercial aircraft at the end of 2025. Airbus Helicopters registered net orders totalling 536 units (2024: 450 units), with a book-to-bill ratio above 1 both in units and value, reflecting strong momentum in particular for military markets. Order intake by value at Airbus Defence and Space increased to a record € 17.7 billion (2024: € 16.7 billion), corresponding to a book-to-bill of around 1.3.

Consolidated order intake by value increased to € 123.3 billion (2024: € 103.5 billion). The consolidated order book value stood at € 619 billion at the end of 2025 (year-end 2024: € 629 billion) including the Company-wide book-to-bill above 1, as well as the weakening of the US dollar. Consolidated revenues increased 6% year-on-year to € 73.4 billion (2024: € 69.2 billion).

A total of 793 commercial aircraft were delivered (2024: 766 aircraft), comprising 93 A220s, 607 A320 Family, 36 A330s and 57 A350s. Revenues generated by Airbus’ commercial aircraft activities increased 4% to € 52.6 billion, mainly reflecting the higher number of deliveries and growth in services, partially offset by the US dollar’s depreciation.

Airbus Helicopters’ revenues increased by 13% to € 9.0 billion, reflecting a strong performance from programmes and growth in services. Helicopter deliveries increased to 392 units (2024: 361 units). Revenues at Airbus Defence and Space increased 11% year-on-year to € 13.4 billion, driven by higher volumes across all business units. Airbus Helicopters’ EBIT Adjusted increased to € 925 million (2024: € 818 million), reflecting the higher deliveries as well as growth in services.

The A220 production ramp-up is ongoing and still paced by the integration of Spirit AeroSystems work packages and the balance between supply and demand. As the Company continues to make tactical adjustments on this ramp-up trajectory, it is now targeting a rate of 13 aircraft a month for the A220 programme in 2028. On the A320 Family, Pratt & Whitney’s failure to commit to the number of engines ordered by Airbus is negatively impacting this year’s guidance and the ramp-up trajectory. As a consequence, the Company now expects 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.

On the A400M programme, a contract amendment was signed with OCCAR in the fourth quarter of 2025 to advance seven deliveries for France and Spain and to further increase the visibility on the programme’s production. In light of uncertainties regarding the level of aircraft orders, Airbus continues to assess the potential impact on the programme’s manufacturing activities. Risks on the qualification of technical capabilities and associated costs remain stable.

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The Company also saw a strong market momentum for its Uncrewed Aerial Systems (UAS) in 2025. In terms of unit bookings, Airbus Helicopters secured a market share of 51% of the civil and parapublic market and its military market share rose to 28%. The Company delivered 392 helicopters in 2025.

The year was defined by major sovereign commitments, most notably from Spain, which placed a landmark order for 100 helicopters—including 50 H145Ms, 31 NH90s for all three branches of the armed forces, and the first orders for the H175M. Germany continued its modernisation by exercising an option for 20 additional H145Ms (bringing the total to 82), with the first helicopters already delivered. Meanwhile, the NH90 programme saw a renewed momentum: the Netherlands added three aircraft to their fleet, Greece signed a critical follow-on support contract, and Germany took delivery of its first NH90 Sea Tiger, the latest evolution for world-leading Anti-Submarine and Anti-Surface Warfare capabilities.

In the heavy segment, the Super Puma family proved its versatility as Greece ordered eight H215s for firefighting. The H225M reached new milestones with Morocco signing a contract for ten H225M helicopters, along with first deliveries to Iraq. The light twin segment was equally robust, with Spain placing an order for 13 H135 helicopters and the UK National Police Air Service ordering seven H135s. With 149 orders, the H145 has once again reaffirmed its position as the best seller on the civil and parapublic and military markets.

Airbus signaled a new chapter in vertical lift at VERTICON 2025 with the unveiling of the H140, a next-generation light twin-engine helicopter. Incorporating techno-bricks like the T-tail configuration, the H140 has already secured 61 firm orders. Innovation also reached new heights with Racer which surpassed its original performance targets to achieve a cruise  speed of 440 km/h (240 kts), reaffirming Airbus’ ability to deliver speed with a simpler aerodynamically optimised architecture.

The Company also established a comprehensive tactical drone range by integrating Survey Copter into its core offerings. Airbus signed its first UAS contracts with Drone Forge and the European Maritime Safety Agency opting for Flexrotor and the French Ministry of Armed Forces ordering six VSR700s. Through HTeaming, Airbus is pioneering the crewed-uncrewed teaming with a standalone solution that allows crews to manage uncrewed systems in real-time, multiplying mission capabilities.

This technological leap is mirrored in the H160 programme, which saw its military version, the H160M “Guépard”, complete its maiden flight in July. The H160 confirmed its successful entry into service by securing approximately 50% of the civil and parapublic market share in the medium twin segment.

The first H160 in a law enforcement configuration was delivered to the French Gendarmerie Nationale and the programme added firefighting to its mission profiles with a delivery to Hiroshima City Fire Services Bureau and an order from the Nagoya City Fire Bureau. The H160 also began offshore operations for the Energy sector in the U.S. with operator PHI Aviation. The H175 received 15 orders in 2025, solidifying its position in the super medium segment.

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The backlog at the end of December 2025 increased to a new year-end record of 8,754 aircraft, highlighting the strong market demand for Airbus’ product portfolio.

In a continued complex and dynamic operating environment, deliveries in 2025 maintained an upward trajectory. The year witnessed several landmark deliveries and welcomed new operators of the A220, the A321XLR, the A330neo and the A350-1000 across all regions.

Airbus also won repeat orders and key new customers in both single aisle and widebody campaigns. The widebody backlog reached a new year-end record of 1,124 aircraft.

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The company reports operating cash flow of $1.1 billion and free cash flow (non-GAAP) of $0.2 billion. Total company backlog at quarter end was $636 billion. Commercial Airplanes Q3 revenue increased to $11.1 billion, primarily reflecting higher deliveries. Third quarter operating margin was impacted by a charge on the 777X program.

“With a sustained focus on safety and quality, we achieved important milestones in our recovery as we generated positive free cash flow in the quarter and jointly agreed with the FAA in October to increase 737 production to 42 per month,” said Kelly Ortberg, Boeing president and chief executive officer. “While we are disappointed in the 777X schedule delay, the airplane continues to perform well in flight testing, and we remain focused on the work ahead to complete our development programs and stabilize our operations in order to fully recover our company’s performance and restore trust with all of our stakeholders.”

The 737 program stabilized production at 38 per month in the quarter and jointly agreed with the Federal Aviation Administration in October to increase to 42 per month. The 787 program continued stabilizing production at seven per month and progressed on previously-announced investments to expand South Carolina operations.

During the quarter, the company updated its assessment of the 777-9 certification timeline and now anticipates first delivery in 2027, resulting in a pre-tax earnings charge of $4.9 billion.

Commercial Airplanes booked 161 net orders in the quarter, including 50 787 airplanes for Turkish Airlines and 30 737-8 airplanes for Norwegian Group. Commercial Airplanes delivered 160 airplanes, the highest quarterly total since 2018, and backlog included over 5,900 airplanes valued at $535 billion.

Defense, Space & Security third quarter revenue of $6.9 billion and operating margin of 1.7 percent reflect stabilizing operational performance and higher volume. During the quarter, Defense, Space & Security secured a contract from the U.S. Space Force to enhance strategic satellite communication capabilities and partnered with the Royal Australian Air Force to successfully demonstrate autonomous operational capabilities of the MQ-28 Ghost Bat. Backlog at Defense, Space & Security grew to $76 billion with 20 percent representing orders from customers outside the U.S.

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Airbus Helicopters registered net orders totalling 171 units (H1 2024: 233 units), which were well spread across the product range. Order intake by value at Airbus Defence and Space totalled € 5.1 billion (H1 2024: € 6.1 billion).

Consolidated revenues increased 3% year-on-year to € 29.6 billion (H1 2024: € 28.8 billion). A total of 306 commercial aircraft were delivered (H1 2024: 323 aircraft), comprising 41 A220s, 232 A320 Family, 12 A330s and 21 A350s. Revenues generated by Airbus’ commercial aircraft activities decreased 2% to € 20.8 billion, mainly reflecting the lower number of deliveries. Airbus Helicopters’ revenues increased by 16% to € 3.7 billion, reflecting a solid performance from programmes and growth in services.

Helicopter deliveries totalled 138 units (H1 2024: 124 units). Revenues at Airbus Defence and Space increased 17% year-on-year to € 5.8 billion, driven by higher volumes across all its business lines.

The A320 Family programme continues to ramp up towards a rate of 75 aircraft per month in 2027. The A330 programme is currently stabilising at a monthly production rate of 4 aircraft and in order to meet customer demand the Company now targets rate 5 in 2029. Specific supply chain challenges, notably with Spirit AeroSystems, are putting pressure on the ramp up of the A350 and the A220. The Company continues to target rate 12 for the A350 in 2028 and a monthly A220 production rate of 14 aircraft in 2026.

Airbus is making good progress on the acquisition of certain Spirit AeroSystems work packages. While the expected closing date is now shifting into Q4 2025 due to ongoing regulatory approvals, all parties are putting the necessary efforts into the closing process.

Airbus Helicopters’ EBIT Adjusted increased to € 249 million (H1 2024: € 230 million), reflecting the growth in services and higher deliveries but with a less favourable mix. EBIT Adjusted at Airbus Defence and Space amounted to € 265 million (H1 2024: € -807 million), supported by higher volumes and improved profitability across all business lines.

Outlook 

As the basis for its 2025 guidance, the Company excludes the impact of tariffs on its business. The Company’s 2025 guidance includes the impact of the integration of certain Spirit AeroSystems work packages based on preliminary estimates and an assumed closing in the fourth quarter of 2025. The Company assumes no additional disruptions to global trade or the world economy, air traffic, the supply chain, its internal operations and ability to deliver products and services.

On that basis, Airbus targets to achieve in 2025:

– Around 820 commercial aircraft deliveries;
– EBIT Adjusted of around € 7.0 billion;
– Free Cash Flow before Customer Financing of around € 4.5 billion.

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Airbus Helicopters registered 450 net orders (2023: 393 units), with a book-to-bill ratio above 1 both in units and value highlighting strong demand for the Division’s platforms. There was also good order intake for helicopter services. Airbus Defence and Space’s order intake by value increased to a record € 16.7 billion (2023: € 15.7 billion), corresponding to a book-to-bill of around 1.4. Fourth quarter orders included 25 additional Eurofighter military aircraft for Spain.

A total of 766 commercial aircraft were delivered (2023: 735 aircraft), comprising 75 A220s, 602 A320 Family, 32 A330s and 57 A350s. Revenues generated by Airbus’ commercial aircraft activities increased 6% to € 50.6 billion, mainly reflecting the higher number of deliveries. Airbus Helicopters’ revenues increased 8% to € 7.9 billion, reflecting higher deliveries of 361 units (2023: 346 units), a solid performance across programmes as well as growth in services. Revenues at Airbus Defence and Space increased 5% year-on-year to € 12.1 billion, mainly driven by the Air Power business. Seven A400M military airlifters were delivered (2023: 8 aircraft), including the first for Kazakhstan.

The A320 Family programme continues to ramp up towards a rate of 75 aircraft per month in 2027. The Company is now stabilising monthly A330 production at around rate 4. Specific supply chain challenges, notably with Spirit AeroSystems, are currently putting pressure on the ramp up of the A350 and the A220. On the A350, the Company continues to target rate 12 in 2028 and is adjusting the entry-into-service of the A350 freighter variant which is now expected in H2 2027. On the A220, the Company continues to target a monthly production rate of 14 aircraft in 2026.

In 2025, Airbus aims to achieve around 820 commercial aircraft deliveries.

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The Super Puma programme performed strongly on both the civil and parapublic and military markets with 58 orders thanks to the German Bundespolizei, the Japan Coast Guard, the Ministry of Defence of the Netherlands, and the Romanian Ministry of National Defence. 2024 saw the launch of a comprehensive upgrade, known as Block 1, for the NH90 as well as the start of flight testing for France’s Special Forces Standard 2 configuration, and the delivery of the first Standard 3 configuration to the Spanish Air Force.

The H145 and H145M programme welcomed many new defence and security customers such as the Brunei Air Force, the Belgian Ministry of Defence, the Indonesian Air Force, the Bahraini Police Aviation Command as well as the Irish Ministry of Defence.

2024 saw the first flight of Racer and the unique compound helicopter surpassed its 407 KM an hour objective in just seven flights along with the maiden flight of CityAirbus NextGen in Donauwörth.

On the civil and parapublic market, the H175 completed its de-icing flight test campaign in Canada and Norway ahead of certification this year and the H160 continued its progressive entry into service around the world with more than 30 helicopters now in service.

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Christian Scherer, CEO Commercial Aircraft at Airbus said, “2024 confirmed sustained demand for new aircraft. We won key customer decisions with most important customers and saw phenomenal momentum for our widebody orderbook, complementing our leading position in the single aisle market. On deliveries, we kept our trajectory and celebrated several landmark firsts. These include the first ever A321XLR as well as first A330neo and A350 deliveries to several customers globally.”

“Given the complex and fast-changing environment we continue to operate in, we consider 2024 a good year. It has been a massive team effort to deliver this 2024 result. A big thanks to Team Airbus who do what they do, every day, for our customers. And a big thanks to our customers for continuing to put their trust in us and grow our partnerships across the world”, he added.

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Airbus Helicopters registered 393 net orders (2022: 362 units), which were well spread across programmes and corresponds to a book-to-bill ratio above 1 both in units and value. Airbus Defence and Space’s order intake by value increased 15 percent to € 15.7 billion (2022: € 13.7 billion), corresponding to a book-to-bill of around 1.4 by value. Fourth quarter orders included 16 C295 aircraft for Spain.

Consolidated order intake by value increased to € 186.5 billion (2022: € 82.5 billion) with the consolidated order book valued at € 554 billion at the end of 2023 (year-end 2022: € 449 billion). The increase in the consolidated backlog value mainly reflects the Company-wide book-to-bill of well above 1, partly offset by the weakening of the US dollar. Consolidated revenues increased 11 percent year-on-year to € 65.4 billion (2022: € 58.8 billion).

A total of 735 commercial aircraft were delivered (2022: 661(1) aircraft), comprising 68 A220s, 571 A320 Family, 32 A330s and 64 A350s. Revenues generated by Airbus’ commercial aircraft activities increased 15 percent, mainly reflecting the higher number of deliveries. Airbus Helicopters’ deliveries were stable at 346 units (2022: 344 units) with revenues rising 4 percent, reflecting the overall performance across programmes and services. Revenues at Airbus Defence and Space increased 2 percent, mainly driven by Military Air Systems and Connected Intelligence, offset by some updated Estimates at Completion of certain Space programmes. A total of 8 A400M military airlifters were delivered (2022: 10 aircraft).

The A220 ramp-up continues towards a monthly production rate of 14 aircraft in 2026, with a focus on the programme’s industrial maturity and financial performance. On the A320 Family programme, production is progressing well towards the previously announced rate of 75 aircraft per month in 2026. In 2023, construction of the second A320 Final Assembly capacities in Tianjin (China) and Mobile (US) commenced and the new A320 Family Final Assembly Line in Toulouse delivered its first aircraft in December.

The first customer A321XLR entered into the Final Assembly Line in December, with entry-into-service for the aircraft type expected to take place in Q3 2024. On widebody aircraft, the Company continues towards a monthly rate of 4 aircraft for the A330 in 2024 and rate 10 in 2026 for the A350.

Outlook

As the basis for its 2024 guidance, Airbus assumes no additional disruptions to the world economy, air traffic, the supply chain, Airbus’ internal operations, and its ability to deliver products and services. On that basis, Airbus targets to achieve in 2024:

• Around 800 commercial aircraft deliveries;
• EBIT Adjusted between € 6.5 billion and € 7.0 billion;
• Free Cash Flow before Customer Financing(3) of around € 4.0 billion.

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Once added to the fleet, the A350-900s will provide EGYPTAIR with 25% less fuel burn and, in turn, reduced emissions, while passengers enjoy the comfort of the Airbus AirSpace cabin, including a feeling of true spaciousness, wide seats, high ceilings and alluring ambient lighting. The signing took place in the presence of EGYPTAIR’s Chairman and CEO, Engineer Yehia Zakaria and Airbus Chief Commercial Officer and Head of International, Christian Scherer.

Ethiopian Airlines has agreed to order 11 787-9 Dreamliner and 20 737 MAX 8 airplanes with an opportunity for 15 and 21 additional jets, respectively. This agreement represents the largest-ever purchase of Boeing airplanes in African history. Ethiopian operates Africa’s largest Dreamliner fleet with a mix of 787-8s and 787-9s.

SCAT Airlines announced an order for seven 737-8 airplanes to expand its 737 MAX fleet. The latest order will nearly double SCAT’s 737 fleet as the airline looks to open new routes to European destinations.

Based in Şhymkent, Kazakhstan, SCAT serves an extensive network of domestic and international destinations in the Commonwealth of Independent States and Central Asia. SCAT was the first airline in Central Asia to fly the 737 MAX and currently operates three 737-8 and five 737-9 airplanes.