ISTANBUL 

Airbus shares fell more than 5% Thursday after the company said it expects to deliver about 870 commercial aircraft in 2026, slightly below analysts’ forecasts.

The outlook comes as pressure builds on the European planemaker while US rival Boeing shows signs of recovery after years of crisis that had previously worked to Airbus’ advantage.

“Global demand for commercial aircraft underpins our ongoing production ramp-up, which we are managing while facing significant Pratt & Whitney engine shortages,” CEO Guillaume Faury said.

Airbus delivered 793 commercial aircraft last year, slightly exceeding its revised target of 790 after cutting an earlier goal of 820 because of supplier quality problems with fuselage panels that disrupted A320 family deliveries.

The manufacturer has benefited in recent years as Boeing grappled with a prolonged crisis linked to design and production flaws in its best-selling 737 Max jet.

Aircraft deliveries are closely watched by investors because planemakers receive most of the payment upon handover. In 2025, Airbus delivered 193 more aircraft than Boeing, although Boeing secured more orders for the first time since 2018.

Airbus reported fourth-quarter adjusted earnings before interest and taxes (EBIT) of €2.98 billion ($3.51 billion), exceeding the €2.87 billion consensus estimate, while revenue came in at €25.98 billion, slightly below the expected €26.5 billion.

Looking ahead, Airbus forecast adjusted EBIT of about €7.5 billion and free cash flow before customer financing of roughly €4.5 billion in 2026, alongside its target of around 870 aircraft deliveries.