Airbus CEO issues a warning that investors can’t ignore

Core Insights - Airbus is facing an "unprecedented number of crises" and "unsettling geopolitical developments," particularly due to U.S. protectionism and U.S.-China trade tensions, which are impacting its global supply chain operations [1] - Despite strong demand for its aircraft, Airbus is struggling with managing deliveries, margins, and cash flow as it moves forward [2] Group 1: Demand and Performance - In 2025, Airbus delivered 793 commercial aircraft and recorded 1,000 gross orders (889 net), resulting in a record backlog of 8,754 aircraft, including a widebody backlog of 1,124 [3] - The strong demand allows Airbus to maintain a long-term perspective, even as the CEO warns about near-term challenges [4] Group 2: Execution Risks - Airbus lowered its delivery goal for 2025 from around 820 to about 790 due to issues with A320 Family fuselage panels from a supplier, although its financial goals remained unchanged [5] - The delivery system's vulnerability is highlighted by the fact that even minor supply chain issues can lead to significant breakdowns, as evidenced by the engine supply problems with Pratt & Whitney and CFM (GE/Safran) [6]