10:56 AM EDT, 04/29/2026 (MT Newswires) -- Mwb Research views Airbus'(AIR.PA, AIR.F) first-quarter results as a "massive"miss, with a year-over-year fall in aircraft deliveries and a full-year 2026 guidance downgrade.

"Airbus posted a disappointing Q1, missing an already heavily reduced consensus on every metric that matters. Commercial aviation EBIT of EUR 1m on EUR 8.3bn of revenue is effectively zero, and the net income beat is entirely explained by a non-cash Dassault stake revaluation,"analysts said Wednesday. "With only 114 deliveries at 13.1% of the full-year target versus 17.2% in 2025 (a year that still saw a guidance cut) reaching 870 aircraft requires a monthly pace more than double the Q1 run rate, with P&W shortages unresolved. The EUR 2bn FCF outflow is largely timing-driven and should not be overinterpreted."

The hold rating on the stock and price target of 170 euros were both left unchanged.

The research firm, however, noted that demand remains "entirely intact,"with Airbus'first-quarter order intake reaching a record high of 398 aircraft and a robust order backlog of 9,037 units, securing its revenue stream for the next 10 years.