Airbus and Boeing report first-half 2025 results: A tale of two strategies
Category:NewsAirbus and Boeing, the world’s two largest commercial airliner OEMs, have released their financial and operational results for the first half of 2025, offering a snapshot of the commercial aviation sector’s ongoing recovery and the differing fortunes of each manufacturer.
Deliveries: Airbus Ahead in Volume
Airbus delivered 306 commercial aircraft between January and June 2025, slightly down from 323 in the same period last year. Despite supply chain challenges—particularly engine shortages impacting narrowbody aircraft—the European manufacturer maintained a steady production rate, bolstered by strong demand for its A320neo and A350 families.
Boeing, by contrast, delivered 280 commercial jets during the first half, marking a significant improvement from 175 deliveries in H1 2024. This represents the American planemaker’s best half-year performance since 2018, driven primarily by increased 737 MAX output and resumed deliveries to Chinese carriers following the easing of trade restrictions.
Orders: Boeing Regains Momentum
In terms of commercial aircraft orders, Boeing slightly edged ahead. The company secured approximately 668 gross orders in the first half of 2025, with a net total of 625 after cancellations and conversions. Major wins included new commitments from IAG and Alaska Airlines.
Airbus reported 494 gross orders, converting to 402 net orders after adjustments. This represents a solid increase on the previous year, with continued strong interest in its A320neo series and widebody A350 models.
Backlog: Airbus Maintains Market Lead
Airbus ended the first half of 2025 with a commercial aircraft backlog of approximately 8,754 aircraft, reflecting its long-term order book strength. Boeing’s backlog stood at just over 6,300 aircraft, around three-quarters of which were for the 737 MAX.
Both manufacturers now hold more than a decade’s worth of production in their pipelines, although Airbus continues to enjoy a larger share of the global market, particularly in the single-aisle segment.
Financials: Airbus Steady, Boeing Recovering
Airbus posted revenues of €29.6 billion for the first half, a modest increase of 3% year-on-year. Adjusted earnings before interest and tax (EBIT) reached €2.2 billion, buoyed by its Defence and Space divisions as well as resilient aircraft demand.
Boeing recorded revenues of $22.7 billion, a 35% year-on-year increase, driven by higher deliveries. The company reduced its net loss to approximately $612 million, compared with a loss of $1.4 billion in the same period last year. Free cash outflow also declined sharply, signalling a turnaround in operating efficiency.
Outlook: Supply Chains and Certification Remain in Focus
Airbus remains confident in meeting its full-year delivery target of around 820 commercial aircraft, though ongoing engine supply constraints continue to delay some deliveries. More than 60 aircraft are currently awaiting the installation of their powerplants.
Boeing is targeting approximately 580 deliveries for 2025, with ambitions to exceed 700 in 2026. However, production remains capped at 38 units per month for the 737 MAX amid regulatory scrutiny, and certification of the MAX 7 and MAX 10 variants has been pushed into 2026.
Airbus Leads but Boeing is closing the Gap
At the mid-point of 2025, Airbus continues to lead the global commercial aircraft market in terms of deliveries and backlog. However, Boeing is clearly on the rebound, narrowing the gap with a strong order book, improved deliveries, and signs of financial stability returning.
The second half of the year will be critical for both manufacturers as they navigate persistent supply chain issues, production constraints, and shifting global demand. While Airbus currently holds the upper hand, Boeing’s resurgence suggests that a more competitive balance may be on the horizon.
By the Numbers
| Orders (Gross) | Deliveries | |
| Airbus | 494 | 306 |
| Boeing | 668 | 280 |
