All NewsJanuary 27, 2026

Airbus CEO issues a warning that investors can’t ignore

Airbus SE (EADSF) did not begin 2026 on the right note.

An internal staff memo from Airbus CEO Guillaume Faury, viewed by Reuters, reads like a warning label. The start of 2026 is marked by an “unprecedented number of crises” and “unsettling geopolitical developments,” he told employees, urging teams to operate with “solidarity and self-reliance.”

To put it bluntly, Faury believes U.S. protectionism and U.S.-China trade tensions are significant, world-changing events. He said these developments are causing real operational damage for a global manufacturer built on cross-border supply chains.

For investors, this is a unique dilemma. Airbus demand continues to be strong, but managing deliveries, margins, and cash is becoming tough as we move forward.

Airbus CEO Guillaume Faury makes a stunning admission in a staff memo.

Photo by ALAIN JOCARD on Getty Images

Demand is strong, and Airbus has the receipts

Airbus delivered 793 commercial aircraft in 2025 and recorded 1,000 gross orders (889 net), ending the year with a record backlog of 8,754 aircraft (including a widebody backlog of 1,124).

Airbus can still comfortably speak about the long game because of those metrics, even when its CEO is warning about the near-term scenario.

Record backlog vs. execution risk

There was a very critical postscript to Airbus’ 2025 performance: Manufacturing is still at risk from “small” problems that quickly become worse.

Airbus lowered its delivery goal for 2025 from around 820 to about 790 on Dec. 3 because of a problem with A320 Family fuselage panels from a supplier. However, the company’s financial goals for 2025 remained the same.

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Airbus then delivered 793 planes, which was slightly more than the new goal. This shows the strength of demand and how easily the delivery system may break down when one section of the supply chain fails.

That case is strengthened by Faury’s memo. He spoke about how there are still problems and pointed out that engine supply is still a problem, naming Pratt & Whitney and CFM (GE/Safran) as Airbus’ “most serious difficulties.”

The cash reality: Airbus’ own filings show why reliability matters

We will need to wait until Feb. 19 for the next big update from the company: the full-year 2025 earnings report.

But its official upgrades already demonstrate why Faury wants things to be stricter.

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By itself, it’s not a “panic” signal. Airbus has said many times that deliveries are backloaded, and times of considerable inventory might put pressure on interim cash metrics. But it serves as a reminder that when engines are late or quality problems slow down the line, the first places a company sees the effects are working capital and cash conversion.

Airbus earnings report: what investors should watch on Feb. 19

Faury is telling employees (and, by extension, the market) that Airbus must be more organized in a world that’s growing messier. Here’s the list of things investors need to review for the report on Feb. 19.

  • Delivery information for 2026 and any news on the A320-family ramp
  • Discussion on engine flow (Pratt & Whitney/CFM) and if late deliveries are improving
  • Progress on returning supplier quality to normal following the fuselage panel problem
  • The forecast for free cash flow following a framework for advice that includes tariffs in 2025
  • Any new information on how Airbus is protecting its supply chain from changes in trade policy

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