Airbus Has the Orders. The Engines Didn’t Get the Memo. - Moby THE GIST Airbus just reminded investors that a record backlog does not mean record deliveries. It can sell jets all day long, but if the engines do not show up, neither does the cash, and the stock reacts accordingly. WHAT HAPPENED Airbus cut its 2026 commercial delivery outlook to about 870 aircraft, below where many analysts had expectations, with some earlier forecasts closer to 900 plus. In some reports, expectations had drifted even hi ...

No, we are not blind. Um, we have um an order in place with CFM that CFM is confirming and uh we have an order in place with PR that they are unfortunately scaling down now. So they are telling us they will not they won't be able to deliver the number of engines that we were expecting.They give a different number that is a lower number. So we are not blind but we have an unsatisfactory situation with less engines that what we would need for 26 and a range of engines for 2027 that supports what we have said ...

Core Viewpoint - Airbus is facing increased pressure as it expects to deliver 870 commercial aircraft in 2026, slightly below analyst expectations of 880, amid signs of recovery from rival Boeing [1][2]. Group 1: Airbus Performance - Airbus delivered 793 commercial aircraft in the previous year, exceeding its target of 790, despite having previously cut its goal from 820 due to supplier quality issues affecting A320 family deliveries [3]. - In the fourth quarter, Airbus reported adjusted EBIT of 2.98 billion euros, aligning with estimates, while revenues were 25.98 billion euros, slightly below the expected 26.5 billion euros [14]. - For the full year, Airbus achieved EBIT of 7.13 billion euros on revenues of 73.4 billion euros, and it anticipates adjusted EBIT of around 7.5 billion euros and free cash flow of about 4.5 billion euros in 2026 [15]. Group 2: Competitive Landscape - Boeing is showing signs of recovery, having delivered 46 aircraft and booked 103 net orders in January 2026, while Airbus reported only 19 deliveries and 49 net orders during the same period [11][12]. - The sentiment around Airbus has become more negative since the beginning of the year, with UBS analysts adjusting their delivery model for Airbus from 905 to 880 aircraft for 2026, while noting potential upside risks for Q4 results [2]. - Analysts from Barclays described Airbus's recent disruptions as a "temporary execution setback," maintaining that the long-term growth trajectory remains intact [6].

Vietnam airlines signs deal with Boeing for 50 737-8 jets | ReutersSkip to main content[Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv]An aircraft of the national flag carrier Vietnam Airlines taxis at Noi Bai airport in Hanoi, Vietnam December 23, 2020. Picture taken December 23, 2020. REUTERS/Kham/ File Photo [Purchase Licensing Rights, opens new tab]HANOI, Feb 19 (Reuters) - Vietnam Airlines [(HVN.HM), opens new tab] has signed an agreement with Boeing [(BA ...

Core Viewpoint - United Airlines' A350 order faces new uncertainty due to a dispute with engine supplier Rolls-Royce, raising questions about the delivery timeline and the future of the order [1]. Group 1: Order Background - The A350 order dates back to 2009 and has undergone multiple changes and deferrals over the years [1]. - United Airlines has indicated that the delivery timeline for 45 A350 jets has been dropped, with no expected arrival date provided [1]. Group 2: Engine Contract Dispute - United Airlines claims that Rolls-Royce breached their long-term contract, which includes a $175 million upfront payment made in 2017 [1]. - Rolls-Royce denies any breach of contract and asserts that it has complied with its obligations [1]. - Both companies are currently in a dispute over financial claims, with each party alleging that the other owes them money [1]. Group 3: Implications for Stakeholders - The dispute between United Airlines and Rolls-Royce could have implications for Airbus, as the A350 order involves complex relationships among the airline, the aircraft manufacturer, and the engine supplier [1]. - United Airlines is considering the potential impact of the dispute on its long-term widebody replacement needs, particularly regarding older Boeing 767s and 777s [1]. - Speculation exists that United may cancel the A350 order or convert it to other Airbus aircraft, such as the A321neo family [1].

Management repeatedly highlighted a shift toward a more diversified top line. Martel said Bombardier achieved the highest business aviation services revenue in its history, totaling $2.3 billion, up 13% year over year, supported by an expanded service network and centers operating at full capacity. He cited more than 5,200 aircraft in service and record customer visits across the network.Bombardier reported delivering 157 aircraft in 2025, up 11 units year over year. Demosky said higher deliveries, pricing, ...

Core Insights - Bombardier Inc. reported strong financial results for the fourth quarter and full-year 2025, marking the fifth consecutive year of growth and exceeding targets [2][4][7] - The company provided guidance for 2026, indicating expectations for continued growth and profitability [12][14] Financial Performance - Revenues for 2025 reached $9.55 billion, a 10% increase year-over-year, driven by higher aircraft deliveries and record-high Services revenues of $2.3 billion, up 13% [4][7][20] - Adjusted EBITDA rose 15% year-over-year to $1,559 million, with an adjusted EBITDA margin of 16.3%, an increase of 60 basis points [7][20] - Reported EBIT increased by 26% to $1,108 million, resulting in an EBIT margin of 11.6%, up 150 basis points [7][20] - Adjusted net income grew to $805 million, a 47% increase year-over-year, while reported net income surged to $975 million, up 164% [9][20] Cash Flow and Debt Management - Free cash flow for 2025 was $1,072 million, an increase of $840 million compared to 2024, reflecting higher customer advances and improved operating cash flows [10][20] - The company repaid over $400 million in debt during 2025, improving the adjusted net debt to adjusted EBITDA ratio from 2.9x in 2024 to 1.9x at year-end [11][20] Order Backlog and Market Demand - The order backlog increased by $3.1 billion to $17.5 billion as of December 31, 2025, representing a 22% year-over-year growth [5][20] - The unit book-to-bill ratio for the year was 1.4, indicating strong demand across Bombardier's aircraft portfolio [5][20] 2026 Guidance - For 2026, Bombardier expects revenues to exceed $10 billion, driven by higher aircraft deliveries and continued growth in Services [14] - Adjusted EBITDA is projected to be greater than $1,625 million, with free cash flow anticipated to range between $600 million and $1,000 million [14][12]

Core Viewpoint - Palantir Technologies Inc. has expanded its partnership with Airbus SE through a multi-year agreement focused on the Skywise open data platform, enhancing operational efficiency in aviation [1][2]. Group 1: Partnership Details - The collaboration involves a multi-year agreement to further develop the Skywise platform, which integrates in-flight engineering and operational data [2]. - The Skywise platform currently supports over 50,000 users in their daily operations [2]. Group 2: Benefits of the Partnership - Palantir's Executive Vice-President, Josh Harris, emphasized that the partnership will enable the delivery of secure, AI-enabled capabilities, improving manufacturing, supply chain, maintenance, and flight operations [3]. Group 3: Market Reaction - Following the announcement, Palantir's stock price declined by 2.14% to $139.51 at market close, but saw a slight recovery of 0.26% to $139.86 in overnight trading [4].

Core Insights - Boeing delivered 46 jets in January, marking the third highest delivery for that month in the company's history [1] - The deliveries included 38 units of the 737 MAX, which is Boeing's best-selling jetliner, and five units of the 787 Dreamliner [1]

Core Viewpoint - Archer Aviation is developing a battery-powered eVTOL aircraft named Midnight, aimed at transforming urban mobility by providing a quieter, more sustainable alternative to helicopters and potentially saving travelers time by flying over traffic [1][4]. Group 1: Company Overview - Archer Aviation has been working on its eVTOL aircraft for over seven years and has faced challenges in gaining regulatory approval from the FAA, resulting in a significant decline in stock value since its public offering [2][6]. - The current stock price of Archer is approximately $6.50, giving the company a valuation of about $4.25 billion [3]. Group 2: Financial Backing and Partnerships - Archer has secured partnerships with major companies such as United Airlines, Stellantis, and Boeing, along with international collaborations with airlines like Japan Airlines and Korean Air, indicating strong industry support [4]. - The company reported a backlog of $6 billion at the end of 2024 and had over $1.6 billion in cash and short-term investments as of the end of the third quarter [4]. Group 3: Regulatory Progress and Future Plans - Archer is making strides in the FAA certification process, which is crucial for commercial passenger flights, and recent government initiatives may expedite this process [5]. - The CEO has indicated that Archer could start operations in U.S. cities as early as summer, and the company has been designated as the official air taxi provider for the LA 2028 Olympic and Paralympic Games [5]. Group 4: Caution Against Overhype - While there is excitement surrounding Archer's developments, there is a need for caution as the company has previously made ambitious promises regarding FAA certification and financial milestones that have not yet materialized [6].