Deliveries and Production - Airbus experienced some concerns regarding the number of deliveries in the most recent half, with 306 deliveries recorded [1] - Airbus has six aircraft "gliders" (fully finished but with engines missing), indicating production is mostly on track when including these [2] - Engine delays are impacting deliveries and contributing to negative free cash flow, but Airbus maintains its guidance expecting engine deliveries to normalize [3] - Airbus aims for a monthly production rate of 75 aircraft for the A320 family by 2027, the highest ever for a commercial aircraft [9] Engine Supply Chain Issues - Engine delays are primarily due to supply chain holdups rather than short-term issues [4] - CSM faced industrial difficulties and a seven-week strike, impacting engine deliveries to Airbus [5] - CSM is expected to return to normal delivery rates by the end of the year [5] Demand and Backlog - Airbus faces very high demand overall, exceeding its ability to supply [7] - Airbus has the biggest backlog in the industry, and it continues to grow [7] - Most customers are requesting an acceleration in delivery schedules [9] Trade and Tariffs - Airbus welcomes the agreement between the United States and the European Union regarding civil aviation tariffs [11] - Airbus hopes the agreement will be enforced as soon as possible, ideally within weeks rather than months, to return to normal operations [12]

Core Insights - Shares in Airbus rose by up to 4% following Vietjet's announcement to double its orders of A330neo aircraft from 20 to 40 during French President Macron's visit to Vietnam [1] - The order represents an expansion in the wide-body market rather than a new customer acquisition, as Vietjet already operates an all-Airbus fleet [2] - The Vietjet order is significant for Airbus's wide-body programs, particularly the A330neo, which had only 82 orders in 2024 and 10 orders in 2025 prior to this announcement [3] Airbus and Vietjet - Vietjet currently operates 116 narrow-body A320 family aircraft and seven wide-body A330s, indicating a strong reliance on Airbus [2] - The order from Vietjet is expected to bolster Airbus's position in the wide-body market, where it has historically lagged behind Boeing [3] Market Context - Airbus and Boeing are facing supply chain challenges that could limit production capacity, raising concerns about potential delivery delays [5] - The Vietjet order is seen as a confidence booster for Airbus's order trajectory and may encourage other airlines to place orders amid market uncertainties [5]