Airbus Reports Strong Nine Month 2025 Financial Performance
Airbus posts solid 9M 2025 results with €47.4B revenue, 507 aircraft deliveries, and plans for increased A320 production by 2027.
In a global landscape marked by dynamic shifts and operational complexities, Airbus has presented a solid financial report for the first nine months of 2025. The results signal a steady trajectory, underpinned by increased revenues and adjusted earnings across its primary divisions. This performance is not just a reflection of numbers on a spreadsheet; it’s a testament to the aerospace giant’s resilience and strategic navigation through a challenging environment. As the industry continues to recover and ramp up, these figures provide a crucial health check on production capabilities, supply chain stability, and future growth prospects.
The significance of these results extends beyond the company’s balance sheet. For the broader aviation, defense, and space sectors, Airbus’s performance serves as a key indicator of market health and industrial capacity. The continued ramp-up of commercial aircraft production, particularly for the popular A320 family, directly impacts airlines, suppliers, and global travel infrastructure. Furthermore, strategic moves, such as the planned consolidation of space activities with European partners, highlight a forward-looking vision aimed at reinforcing regional autonomy and competitiveness on the world stage. We’re looking at a company not just meeting current demand but actively shaping the future of aerospace.
A closer look at the numbers reveals a consistent upward trend. For the nine months ending September 30, 2025, Airbus reported consolidated revenues of €47.4 billion, a 7% increase compared to the same period in 2024. This growth wasn’t isolated to one segment but was driven by higher volumes across all business lines, with particularly strong showings from the Defence and Space and Helicopters divisions. This broad-based improvement suggests a healthy and diversified operational footing, capable of weathering turbulence in any single market.
Profitability metrics tell an even more compelling story. The company’s EBIT Adjusted, a key indicator of underlying performance, surged by an impressive 48% to reach €4.1 billion. This significant jump was supported by improved profitability in the Defence and Space division, which saw a notable turnaround, alongside steady growth in the Helicopters business. For commercial aircraft activities, a more favorable hedge rate contributed positively to the bottom line. While reported net income also saw a substantial 46% increase to €2.6 billion, the free cash flow before customer financing remained negative at -€0.9 billion, a figure that reflects the necessary inventory build-up to support a high volume of deliveries anticipated in the final quarter of the year.
Despite the cash flow position, the company maintains a robust net cash position of €7.0 billion. This financial stability is crucial as Airbus continues to invest heavily in expanding its industrial capacity to meet its ambitious production targets. The overall financial picture is one of controlled, strategic growth, balancing immediate performance with long-term investment in the industrial system.
“Our nine-month results reflect the level of commercial aircraft deliveries and a solid performance in the Defence and Space and Helicopters businesses. Deliveries remain backloaded amid a complex and dynamic operating environment.” – Guillaume Faury, Airbus Chief Executive Officer
The Commercial Aircraft division remains the cornerstone of Airbus’s operations. In the first nine months of 2025, a total of 507 aircraft were delivered to customers, a slight increase from the 497 delivered during the same period in 2024. The A320 Family continues to be the workhorse, accounting for 392 of these deliveries. Gross orders stood at 610 aircraft, translating to 514 net orders after cancellations, reinforcing a massive order backlog of 8,665 commercial aircraft, a figure that secures production for years to come.
The production ramp-up is a critical focus. Airbus is holding firm on its target to produce 75 A320 Family aircraft per month in 2027. For other programs, targets are also set: the A220 is aiming for a rate of 12 per month in 2026, while the widebody A350 program is targeting a rate of 12 per month in 2028. These ambitious goals underscore the sustained demand for new, more fuel-efficient aircraft and the industrial challenge of scaling production to meet it.
Beyond commercial jets, the other divisions demonstrated robust health. Airbus Helicopters saw its revenues climb by 16% to €5.7 billion, delivering 218 units and securing 306 net orders. The Defence and Space division marked a significant turnaround, with revenues increasing by 17% to €8.9 billion and EBIT Adjusted reaching €420 million, a stark contrast to the loss reported in the previous year. A pivotal post-closing event was the signing of a Memorandum of Understanding with Leonardo and Thales to combine their space activities, a strategic maneuver aimed at creating a new European space champion. Airbus’s nine-month 2025 results paint a picture of a company executing a clear strategy amidst a complex global environment. The solid financial performance, coupled with a strong order backlog, provides a stable foundation for its ambitious production ramp-up. The company has confidently maintained its full-year guidance, which now incorporates the impact of tariffs and the planned integration of certain Spirit AeroSystems work packages. This guidance targets around 820 commercial aircraft deliveries and an EBIT Adjusted of approximately €7.0 billion for the full year.
Looking ahead, the focus remains squarely on execution. The “backloaded” nature of deliveries means the final quarter will be a critical test of the industrial system’s capacity and resilience. Strategic initiatives, particularly the move to consolidate European space activities, signal a long-term vision that extends beyond quarterly results. For the industry, Airbus’s steady climb is a welcome sign of stability and a harbinger of the continued, albeit challenging, recovery and growth of the global aerospace sector.
Question: What were Airbus’s total revenues for the first nine months of 2025? Question: How many commercial aircraft did Airbus deliver in 9M 2025? Question: What is Airbus’s production target for the A320 Family? Question: Has Airbus changed its full-year guidance for 2025? Question: What major strategic move was announced in the space sector?
Airbus on a Steady Climb: Analyzing the Nine-Month 2025 Financials
Dissecting the Financials: A Story of Growth
Operational Breakdown: From Commercial Jets to Space Ventures
Conclusion: Steady Guidance in a Dynamic Sky
FAQ
Answer: Airbus reported consolidated revenues of €47.4 billion for the first nine months of 2025, a 7% increase from the same period in 2024.
Answer: Airbus delivered a total of 507 commercial aircraft in the first nine months of 2025.
Answer: Airbus is on track to reach a production rate of 75 A320 Family aircraft per month in 2027.
Answer: No, Airbus has maintained its full-year 2025 guidance, which includes around 820 commercial aircraft deliveries and an EBIT Adjusted of around €7.0 billion.
Answer: Airbus signed a Memorandum of Understanding with Leonardo and Thales to combine their space activities, aiming to create a new European leader in the sector.
Photo Credit: Airbus
Aircraft Orders & Deliveries
Qanot Sharq Receives First Airbus A321XLR in Central Asia
Qanot Sharq becomes Central Asia’s first operator of the Airbus A321XLR, expanding long-haul routes to North America and Asia from Tashkent.
This article is based on an official press release from Airbus and Qanot Sharq.
On December 19, 2025, Qanot Sharq, Uzbekistan’s first private airline, officially took delivery of its first Airbus A321XLR (Extra Long Range) aircraft. The delivery, facilitated through a lease agreement with Air Lease Corporation (ALC), marks a historic milestone for aviation in the region, as Qanot Sharq becomes the launch operator of the A321XLR in Central Asia and the Commonwealth of Independent States (CIS).
This aircraft is the first of four confirmed A321XLR units destined for the carrier. According to the official announcement, the airline intends to utilize the aircraft’s extended range to open new long-haul markets that were previously inaccessible to single-aisle jets, including planned services to North America and East Asia.
The newly delivered A321XLR is powered by CFM International LEAP-1A engines and features a two-class layout designed to balance capacity with passenger comfort on longer sectors. The aircraft accommodates a total of 190 passengers.
In addition to the seating configuration, the aircraft is fitted with Airbus’ “Airspace” cabin interior. Key features include customizable LED lighting, lower cabin altitude settings to reduce jet lag, and XL overhead bins that provide 60% more storage capacity compared to previous generation aircraft.
Nosir Abdugafarov, the owner of Qanot Sharq, emphasized the strategic importance of the delivery in a statement regarding the fleet expansion.
“The A321XLR’s exceptional range and efficiency will allow us to offer greater comfort and convenience while maintaining highly competitive operating economics.”
, Nosir Abdugafarov, Owner of Qanot Sharq
The introduction of the A321XLR allows Qanot Sharq to deploy a narrowbody aircraft on routes typically reserved for widebody jets. With a range of up to 4,700 nautical miles (8,700 km), the airline plans to connect Tashkent with destinations in Europe, Asia, and North America.
According to the airline’s strategic roadmap, the new fleet will support route expansion to Sanya (China) and Busan (South Korea). Furthermore, the airline has explicitly outlined plans to serve New York (JFK) via Budapest. While the A321XLR has impressive range, the distance between Tashkent and New York (approximately 5,500 nm) necessitates a technical stop. Budapest will serve as this intermediate point, potentially allowing the airline to tap into passenger demand between Central Europe and the United States, subject to regulatory approvals. AJ Abedin, Senior Vice President of Marketing at Air Lease Corporation, noted the geographical advantages available to the airline.
“Qanot Sharq is uniquely positioned to unlock the full potential of the A321XLR due to its strategic location in Uzbekistan, bridging Europe and Asia.”
, AJ Abedin, SVP Marketing, Air Lease Corporation
The delivery of the A321XLR signals a distinct shift in the competitive landscape of Uzbek aviation. Until now, long-haul flights from Tashkent,specifically to the United States,have been the exclusive domain of the state-owned flag carrier, Uzbekistan Airways, which utilizes Boeing 787 Dreamliners for non-stop service.
By adopting the A321XLR, Qanot Sharq appears to be pursuing a “long-haul low-cost” hybrid model. The A321XLR burns approximately 30% less fuel per seat than previous-generation aircraft, allowing the private carrier to operate long routes with significantly lower trip costs than its state-owned competitor. While the one-stop service via Budapest will result in a longer total travel time compared to Uzbekistan Airways’ direct flights, the lower operating costs could allow Qanot Sharq to offer more competitive fares, appealing to price-sensitive travelers and labor migrants.
Furthermore, the choice of Budapest as a stopover is strategic. If Qanot Sharq secures “Fifth Freedom” rights,which are currently a subject of regulatory negotiation,it could monetize the empty seats on the Budapest-New York sector, effectively competing in the transatlantic market while serving its primary base in Central Asia.
Sources: Airbus Press Release, Air Lease Corporation
Qanot Sharq Becomes First Central Asian Operator of Airbus A321XLR
Aircraft Configuration and Capabilities
Strategic Network Expansion
AirPro News Analysis: The Long-Haul Low-Cost Shift
Sources
Photo Credit: Airbus
MRO & Manufacturing
ITP Aero to Acquire Aero Norway, Expanding CFM56 MRO Services
ITP Aero signs agreement to acquire Aero Norway, enhancing aftermarket capabilities for CFM56 engines and expanding its European MRO presence.
ITP Aero, a global leader in aerospace propulsion, has signed a binding agreement to acquire Aero Norway, a specialized maintenance, repair, and overhaul (MRO) provider focused on CFM56 engines. According to the company’s official announcement, the transaction is expected to close during the first half of 2026, subject to customary regulatory approvals.
The acquisition represents a significant expansion of ITP Aero’s aftermarket capabilities. By integrating Aero Norway’s facility in Stavanger, Norway, ITP Aero aims to reinforce its status as a leading independent player in the aerospace services sector. The move follows a trajectory of aggressive growth for the Spanish propulsion company since its acquisition by Bain Capital in 22.
Aero Norway operates out of a facility at Sola Airport in Stavanger, employing a workforce of over 200 skilled technicians. The company has established a reputation for high-quality engine maintenance, specifically for the CFM56 engine family, serving a global client base of airlines, lessors, and asset managers.
In its press statement, ITP Aero highlighted that the two companies possess “highly complementary strengths.” The deal combines Aero Norway’s deep expertise in engine overhaul with ITP Aero’s existing engineering capabilities and component repair infrastructure. This synergy is designed to offer a more comprehensive suite of services to the aftermarket sector.
This agreement is the latest in a series of strategic moves by ITP Aero. In 2023, the company acquired BP Aero in the United States and was recently selected to join Pratt & Whitney’s GTF MRO network. These steps are part of a broader “2030 Strategic Plan” which aims to double the size of the business and increase the global workforce by 50% by the end of the decade.
While the press release focuses on corporate synergies, the acquisition underscores a critical trend in the current aviation landscape: the extended dominance of the CFM56 engine. As new-generation engines like the LEAP and GTF face supply chain delays and durability challenges, airlines are keeping older aircraft powered by CFM56 engines in service longer than originally planned.
Industry data suggests that approximately 20,000 CFM56 engines will remain in service through 2025. Consequently, the demand for maintenance shop visits is projected to peak between 2025 and 2027. By acquiring a specialist shop like Aero Norway, ITP Aero is effectively positioning itself to capture high-value work during this period of “structural undersupply” in the narrowbody market. This “Golden Tail”, the long, profitable tail end of an engine program’s lifecycle, provides a stable revenue runway for MRO providers capable of handling heavy overhauls. The crossover point where new-generation engine shop visits outnumber CFM56 visits is not expected until later in the decade, making capacity for legacy engines a premium asset today.
Leadership from both organizations emphasized the value of combining their respective technical strengths. Eva Azoulay, CEO of ITP Aero Group, described the agreement as a key component of the company’s roadmap.
“The signing of this binding acquisition agreement marks a significant milestone in our strategic roadmap. This acquisition reinforces our ambition to become a leading independent player in the aerospace aftermarket.”
, Eva Azoulay, CEO of ITP Aero Group
Neil Russell, CEO of Aero Norway, noted that the merger would unlock synergies beneficial to their customer base.
“By combining the complementary strengths of ITP Aero and Aero Norway, we will unlock significant synergies that enhance our competitiveness and deliver even greater value to our customers.”
, Neil Russell, CEO of Aero Norway
ITP Aero reports that it has tripled its earnings since 2022 and is currently implementing a long-term business plan that spans civil, defense, and MRO segments. The company was advised on legal M&A matters regarding this transaction by Baker McKenzie.
Pending regulatory clearance, the integration of Aero Norway into the ITP Aero Group will finalize in 2026, solidifying the company’s footprint in the European MRO market.
Sources:
ITP Aero to Acquire Aero Norway, Strengthening Position in CFM56 Aftermarket
Strategic Expansion in the MRO Sector
AirPro News Analysis: The “Golden Tail” of the CFM56
Executive Commentary
Future Outlook
Photo Credit: ITP Aero
Airlines Strategy
Kenya Airways Plans Secondary Hub in Accra with Project Kifaru
Kenya Airways advances plans for a secondary hub at Accra’s Kotoka Airport, leveraging partnerships and regional aircraft to boost intra-African connectivity.
This article summarizes reporting by AFRAA and official statements from Kenya Airways.
Kenya Airways (KQ) is moving forward with strategic plans to establish a secondary operational hub at Kotoka International Airport (ACC) in Accra, Ghana. According to reporting by the African Airlines Association (AFRAA) and recent company statements, this initiative represents a critical pillar of “Project Kifaru,” the airlines‘s three-year recovery and growth roadmap.
The proposed expansion aims to deepen intra-African connectivity by positioning Accra as a pivotal node for West African operations. Rather than launching a wholly-owned subsidiary, a model that requires heavy capital expenditure, Kenya Airways intends to utilize a partnership-driven approach, leveraging existing relationships with regional carriers to feed long-haul networks.
While the Kenyan government formally requested permission for the hub in May 2025, Kenya Airways CEO Allan Kilavuka confirmed in December 2025 that the plan remains under active study. A final decision on the full execution of the project is expected in 2026.
The core of the Accra strategy involves basing aircraft directly in West Africa to serve high-demand regional routes. According to details emerging from the planning phase, Kenya Airways intends to deploy three Embraer E190-E1 aircraft to Kotoka International Airport. These aircraft will facilitate regional connections, feeding passengers into the carrier’s long-haul network and supporting the logistics needs of the region.
This operational shift marks a departure from the traditional “hub-and-spoke” model centered exclusively on Nairobi. By establishing a presence in Ghana, KQ aims to capture traffic in a market currently dominated by competitors such as Ethiopian Airlines (via its ASKY partner in Lomé) and Air Côte d’Ivoire.
A key component of this strategy is the airline’s collaboration with Ghana-based Africa World Airlines (AWA). Kenya Airways signed a codeshare agreement with AWA in May 2022. This partnership allows KQ to connect passengers from its Nairobi-Accra service to AWA’s domestic and regional network, covering destinations like Kumasi, Takoradi, Lagos, and Abuja.
Industry observers note that this “capital-light” model reduces the financial risks associated with starting a new airline from scratch. Instead of competing directly on every thin route, KQ can rely on AWA to provide feed traffic while focusing its own metal on key trunk routes. The push for a West African hub comes as Kenya Airways navigates a complex financial recovery. The airline reported a significant milestone in the 2024 full financial year, posting an operating profit of Ksh 10.5 billion and a net profit of Ksh 5.4 billion, its first profit in 11 years. This resurgence provided the initial confidence to pursue the growth phase of Project Kifaru.
However, the first half of 2025 presented renewed challenges. The airline reported a Ksh 12.2 billion loss for the period, attributed largely to currency volatility and the grounding of its Boeing 787 fleet due to global spare parts shortages. These financial realities underscore the necessity of the proposed low-capital expansion model in Accra.
The strategy focuses on collaboration with existing African carriers rather than creating a new airline from scratch.
, Summary of Kenya Airways’ strategic approach
The viability of the Accra hub relies heavily on the Single African Air Transport Market (SAATM) and “Fifth Freedom” rights, which allow an airline to fly between two foreign countries. West Africa has been a leader in implementing these protocols, making Accra a legally feasible location for a secondary hub.
Furthermore, the African Continental Free Trade Area (AfCFTA) secretariat is headquartered in Accra. Kenya Airways is positioning itself to support the trade bloc by facilitating the movement of people and cargo between East and West Africa. The airline has already introduced Boeing 737-800 freighters to serve key destinations including Lagos, Dakar, Freetown, and Monrovia.
The decision to delay a final “go/no-go” confirmation until 2026 suggests a prudent approach by Kenya Airways management. While the West African market is lucrative, it is also saturated with aggressive competitors like Air Peace and the well-entrenched ASKY/Ethiopian Airlines alliance. By opting for a partnership model with Africa World Airlines rather than a full subsidiary, KQ avoids the “cash burn” trap that led to the collapse of previous pan-African airline ventures. If successful, this could serve as a blueprint for other mid-sized African carriers looking to expand without overleveraging their balance sheets.
What aircraft will be based in Accra? When will the hub become operational? How does this affect the Nairobi hub?
Kenya Airways Advances Plans for Secondary Hub in Accra Under ‘Project Kifaru’
Operational Strategy: The ‘Mini-Hub’ Model
Partnership with Africa World Airlines
Financial Context and ‘Project Kifaru’
Regulatory Landscape and Competition
AirPro News Analysis
Frequently Asked Questions
Current plans indicate that Kenya Airways intends to base three Embraer E190-E1 aircraft at Kotoka International Airport.
While planning is underway and government requests have been filed, a final decision on full execution is not expected until 2026.
Nairobi (Jomo Kenyatta International Airport) remains the primary hub. The Accra facility is designed as a secondary node to improve regional connectivity and feed traffic back into the global network.
Sources
Photo Credit: Embraer – E190
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