Airbus Rating Upgrade

S&P Global Ratings announced on 30 June 2026 that it has raised Airbus SE's long‑term sovereign‑type credit rating from A to A+ and its short‑term rating from A‑1 to A‑1+, assigning a stable outlook. The agency highlighted the company's robust financial flexibility, underpinned by a substantial cash cushion.

Financial Highlights

Airbus accumulated approximately €15.6 billion of free operating cash flow over the 2022‑2025 period. As of December 2025, the group's net cash position exceeded €10 billion, a level that S&P expects the company will maintain for at least the next three years. The rating agency also projects that Airbus will continue to generate free operating cash flow well in excess of €4 billion per year while delivering on its order backlog.

Order Backlog and Production Targets

The company's order backlog remains above €600 billion, with a commercial aircraft backlog of 9,253 units reported in May 2026. Leveraging this pipeline, Airbus aims to raise A320 family production to between 70 and 75 aircraft per month by the end of 2027 and to increase A350 production to 12 aircraft per month by 2028.

Operational Expansions and Acquisitions

In 2025 Airbus commissioned a second final‑assembly line for the A320 in Tianjin, China, and is concurrently expanding its assembly facility in Mobile, Alabama, United States. In December 2025 the group acquired key work packages from Spirit AeroSystems, encompassing major fuselage sections, wing leading edges, nacelles, engine pylons, landing‑gear doors and other composite and metallic aerostructures primarily for the A220 and A350 programmes.

Workforce Growth

Airbus' workforce grew to roughly 165,000 employees by December 2025, up from 133,000 employees in 2019, reflecting the company's scaling of production and development activities.

Capital Expenditure Outlook

S&P expects Airbus' capital expenditure to range between €4.0 billion and €4.5 billion annually for the 2026‑2028 period. The stable outlook reflects confidence that the company will successfully execute its sizable backlog, improve profitability, and sustain steady cash‑flow generation while adhering to a credit‑supportive financial policy.