Plane deliveries have powered Boeing’s uneven recovery since 2024. - David Ryder/Bloomberg News Stepped-up production and deliveries of commercial jets helped fuel improvements in Boeing’s business in the latest quarter. Sales surged 57% to $23.95 billion as commercial aircraft deliveries hit their highest point since 2018. The aerospace and defense company’s overall order backlog hit a record $682 billion. Most Read from The Wall Street Journal Boeing swung to a fourth-quarter profit of $8.22 billio ...

Airbus Q4 2025 Pre-Call Summary Company Overview - **Company**: Airbus (OTCPK:EADS.F) - **Call Date**: January 27, 2026 - **New Head of Investor Relations**: Jean-Christophe Henoux, appointed December 1, 2025 Key Points Financial Performance - **Aircraft Deliveries**: Delivered 286 aircraft in Q4 2025, an increase of 17 aircraft compared to 269 in Q4 2024, including: - +1 A220 - +9 A320 - +3 A350 - +4 A330 [3] - **Fixed Costs**: Anticipated mechanical under assumption of fixed costs due to shortfall against initially planned delivery volume [3]. - **Foreign Exchange Impact**: Stable average blended rate at 1.21 for Q4 2025, expected to have a neutral financial impact compared to Q4 2024 [3]. - **Recruitment**: Continued hiring in 2025, but at a slower pace than in 2024 [3]. Cost and Inflation - **Inflation Impact**: Expected low triple-digit negative impact in 2025, slightly less than EUR 200 million negative impact recorded in 2024 [4]. - **R&D Expenses**: Anticipated to be slightly lower than in 2024 [4]. - **Tariffs**: Financial impact for 2025 expected to be between EUR 100 million and EUR 200 million, with most recorded in Q4 [4]. Division Performance - **Airbus Helicopters**: Similar volume of helicopters delivered in Q4 2025 compared to Q4 2024, with solid performance expected in services [5]. - **Airbus Defence and Space**: A charge of EUR 0.3 billion recorded in Q4 2024 for contract updates; only two-thirds of this charge is expected to normalize [5]. - **Free Cash Flow**: Expected to reflect higher volume of commercial aircraft deliveries, despite updates to delivery targets impacting inventory levels [6]. Market Outlook - **Order Momentum**: Strong momentum observed in all divisions for both civil and military markets in Q4 2025 [6]. Communication and Guidance - **Quiet Period**: Quiet period begins January 29, 2026, with full year 2025 earnings release scheduled for February 19, 2026, at 7:30 A.M. CET [2][7].

Core Insights - Boeing Company reported a significant increase in aircraft deliveries for Q4 2025 and the full year, indicating strong performance in both commercial and defense sectors [1][2][4] Commercial Deliveries - In Q4 2025, Boeing delivered 160 commercial airplanes, a substantial rise from 57 aircraft delivered in the same quarter of the previous year [1] - For the entire year, Boeing delivered 600 commercial jets, up from 348 in 2024, with the majority of Q4 deliveries coming from the 737 program (117 aircraft) [2][9] Defense Deliveries - Boeing's Defense, Space and Security segment delivered 37 aircraft in Q4 2025, slightly higher than 36 units in the same period last year [3] - Total defense deliveries for the year reached 131 aircraft, an increase from 112 units delivered in the prior year, showcasing the segment's contribution to Boeing's diversified aerospace portfolio [4][9] Operational Efficiency - The increase in deliveries is expected to enhance Boeing's ability to convert production into revenues and improve overall cash flow, reflecting better operational control and customer confidence [5] Industry Comparison - In comparison, Airbus delivered 793 commercial aircraft in 2025, surpassing Boeing's 600 deliveries, indicating a competitive landscape in the aerospace industry [6] - Embraer delivered 148 aircraft in the first nine months of 2025, showing steady demand in its market segment, although on a smaller scale than Boeing and Airbus [7] Stock Performance - Boeing's shares have increased by 47.2% over the past year, outperforming the industry's growth of 35.4% [8] - The company's shares are currently trading at a relative discount, with a forward 12-month Price/Sales ratio of 1.96X compared to the industry's average of 2.76X [10]

The European Union Aviation Safety Agency is mandating inspections of some Airbus SE A320 jets and requiring carriers to repair any out-of-spec panels found on the fuselages. https://t.co/Og3I7Whj1P ...

Core Viewpoint - China Eastern Airlines reported an increase in passenger capacity and turnover for November 2025, indicating growth in both domestic and international markets [1] Group 1: Operational Performance - Passenger capacity (measured in available seat kilometers) increased by 6.51% year-on-year for November 2025 [1] - Passenger turnover (measured in revenue passenger kilometers) rose by 10.35% year-on-year [1] - The passenger load factor reached 87.37%, up by 3.04 percentage points year-on-year [1] - Cargo and mail turnover (measured in cargo mail ton kilometers) increased by 13.30% year-on-year [1] Group 2: Route Expansion - New domestic routes include Guiyang-Jieyang Chaoshan, Nanchang-Yangzhou, and Ningbo-Xishuangbanna [1] - Resumed domestic routes include Shanghai Pudong-Hangzhou, Hefei-Datong, Hefei-Shenyang, and Ningbo-Changbai Mountain [1] - Increased frequency on domestic routes includes Beijing Daxing-Harbin, Beijing Daxing-Xishuangbanna, and Kunming-Chongqing [1] - New international route includes Beijing Daxing-Muscat [1] - Resumed international route includes Shanghai Pudong-New Delhi [1] - Increased frequency on international routes includes Shanghai Pudong-Melbourne, Shanghai Pudong-Phuket, and Shanghai Pudong-Brisbane [1] Group 3: Fleet Update - The company introduced 5 new aircraft, including 2 A321NEO, 2 C919, and 1 C909 [1] - The company retired 2 aircraft, including 1 A320 and 1 B737-800 [1] - As of the end of November 2025, the total operational fleet consists of 825 aircraft [1]

Core Viewpoint - China Eastern Airlines (600115.SH) reported an increase in passenger capacity and turnover for November 2025, indicating growth in operational performance and demand recovery in the aviation sector [1] Group 1: Operational Performance - The passenger capacity input (measured in available seat kilometers) for November 2025 increased by 6.51% year-on-year [1] - The passenger turnover (measured in revenue passenger kilometers) rose by 10.35% year-on-year [1] - The passenger load factor reached 87.37%, up by 3.04 percentage points year-on-year [1] Group 2: Cargo Performance - The cargo and mail turnover (measured in cargo mail ton kilometers) increased by 13.30% year-on-year for November 2025 [1] Group 3: Fleet Update - In November 2025, the company introduced 5 new aircraft, including 2 A321NEO, 2 C919, and 1 C909, while retiring 2 aircraft, comprising 1 A320 and 1 B737-800 [1] - As of the end of November 2025, the total operational fleet consisted of 825 aircraft [1]

US operators of nearly 2,000 Airbus SE A320 family aircraft will need to perform more frequent inspections of door fasteners to check for possible cracks, FAA directive says https://t.co/cx7ZND3EmV ...

Core Insights - The International Air Transport Association (IATA) has expressed declining confidence in Airbus's ability to meet its aircraft delivery targets due to ongoing aerospace supply chain issues, while Boeing's delivery performance has shown significant improvement compared to previous years [1][2] Group 1: Airbus - Airbus has faced quality issues with the A320 fuselage metal skin, software fixes, and ongoing supply chain tensions, leading to a downward revision of its 2025 delivery target from 820 aircraft to 790 [1] - The repeated downward adjustments in delivery guidance and Boeing's relative recovery in delivery performance have contributed to a sharp decline in market confidence in Airbus's delivery commitments [1][2] - The CEO of Airbus had previously maintained a target of delivering 820 aircraft in 2025 as recently as September, but was forced to revise this target in December, undermining trust in the company's delivery management capabilities [2] Group 2: Boeing - Boeing has improved its delivery performance after undergoing a series of self-restructuring measures, including regulatory production limits and the acquisition of Spirit AeroSystems [2] - IATA has publicly acknowledged Boeing's delivery performance as having "significantly improved," contrasting with Airbus's recent struggles [2] - The perception of Boeing as a less reliable manufacturer has shifted, as the company has managed to stabilize its delivery performance following the 737 MAX safety incidents [2]

This week, Airbus got a brutal reminder that even the world's most-delivered jet - the A320 - isn't immune to shocks as disparate as solar flares and flawed metal. ...

Core Insights - Airbus is currently facing significant challenges, particularly with software upgrades and discrepancies in aircraft panels, which have led to a reduction in delivery targets for the year [2][5][9] - Despite these issues, Airbus has maintained its financial targets, which has helped stabilize its stock performance compared to Boeing [6][5] - The A320 aircraft, a key product for Airbus, remains a dominant player in the commercial aviation market, although it faces scrutiny due to recent problems [7][9] Summary by Category Company Performance - Airbus announced that 6,000 A320 aircraft required software upgrades, which were completed unexpectedly quickly over the weekend [3] - The company has revised its delivery target from 820 aircraft to 790 for the year due to ongoing checks on aircraft panels [5] - Despite the delivery target reduction, Airbus has kept its financial targets intact, which has contributed to a more stable stock performance [6] Industry Context - The A320 is recognized as the world's most flown commercial aircraft, significantly impacting Airbus's market position against Boeing [7][9] - Boeing has historically been a dominant player in the aviation industry, but Airbus has gained substantial market share with the A320 and its derivatives [8] - The competitive landscape remains tight, with both companies vying for market share, but Airbus's recent challenges have raised concerns among investors [9][10]