Airbus posts record Q2 deliveries, raises outlook; July deliveries flat but engine constraints persist – competitive pressure on Boeing intensifies

Airbus delivered 237 aircraft in Q2, backlog hits 9,222 units. Raised full-year outlook and announced €5B buyback. July deliveries flat at 67 (need 90/month for 870 target), with Pratt & Whitney engine constraints leaving ~200 completed airframes awaiting engines. This mirrors Boeing's own bottlenecks. Order activity strong (SMBC 100 A320neo, Riyadh Air A350-1000) but conversion to deliveries is key risk. AirAsia X cancels A330neos for A220s, signaling shifting preferences. Competitive pressure on Boeing remains intense.