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Airbus Suffers 92 Cancellations, Deliveries Improve

Mar. 09, 2021 8:30 AM ETAirbus SE (EADSY), EADSF6 Comments


  • Airbus lost 92 orders in February driven by expected cancellations from Norwegian.
  • Cancellations were partially offset by orders for 11 aircraft.
  • European jet maker saw deliveries improve sequentially.
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Jet maker Airbus (OTCPK:EADSY) recently published its order and delivery figures for February. Whereas there were no orders or cancellations in January, in February there was more activity. In particular, there was cancellation activity while there was a bit of order inflow as well.

At this point, I do not expect 2021 to be a year to be excited about when it comes to orders and deliveries, but whereas last year the first 2-3 months of the orders and delivery numbers were still not affected significantly by the pandemic. This year will be different. In combination with the roll out of vaccines I believe the order and delivery numbers that jet makers will show this year will be a better benchmark for the appetite for near-term demand as well as longer-term demand for new aircraft. In this analysis I will have a look at the order and delivery numbers for Airbus in February.

Aircraft orders February

Airbus Orders February 2021

Figure 1: Airbus Orders February 2021 (Source: TAF Airbus Orders and Deliveries Monitor)

For this year, I do not have extremely high expectations for the order inflow for either jet maker. Airbus started the year with zero orders in January, but in February there was a slight uptick as the European jet maker received 11 orders composed of 10 single aisle jets and one wide body aircraft:

  • An unidentified customer ordered 10 Airbus A320neo aircraft.
  • Airbus performed an intra-company order for one Airbus A330-200 to be used as a multi-role tanker transport aircraft.

During the month the following cancellations to the order book were processed:

  • Macquarie Financial Holdings Pty Limited once again cancelled an order for 1 Airbus A220-300.
  • A Government or VIP customer cancelled an order for 1 Airbus A320neo.
  • Norwegian (OTCPK:NWARF) cancelled orders for 58 Airbus A320neos and 30 Airbus


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This article was written by

Dhierin Bechai profile picture
Dhierin is a leading contributor covering the aerospace industry on Seeking Alpha and the founder of The Aerospace Forum. With his Aerospace Engineering background he has a more indepth knowledge about aerospace products enabling him to cover a complex niche. Most of his reports will be about companies in the aerospace industry or airlines industry, comparing products and looking at market forecasts providing investors with unique and thorough insights. Dhierin has accumulated nearly 20 million views never failing to spark healthy and thoughtful discussions for investors and aerospace professionals.

His reports have been cited by CNBC, the Puget Sound Business Journal, the Wichita Business Journal and National Public Radio. His expertise is also leveraged in Luchtvaartnieuws Magazine, the biggest aviation magazine in the Benelux.

AeroAnalysis offers wide variety of services, ranging from providing data and cost models to consultancy possibilities. Check out our website for more information. Though we believe in the strong nature of our analysis, we are in no way giving buy or sell recommendations and advise everyone to do their own due diligence before making investment decisions.

Analyst’s Disclosure: I am/we are long BA, EADSF, AER. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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Comments (6)

thank you for the article. I see a wide moat and a undervalued great company. I am a buyer.
Jacobin777 profile picture
Interesting, just watching on CNBC that Boeing for the 1st time since November 2019 have more orders than cancellations.

I don't have Airbus (sold at 50% profit) and don't have Boeing (wish I purchased last year) however I purchased Spirit Aerosystems at less than $22/share so I'm sitting good there.
Dhierin Bechai, appreciate your summary regarding Airbus, could you please also give us your take regarding the following issues:
- What do you expect in terms of air travel numbers for the Summer
- What is your timeline regarding the 737 MAX re-certification in Asia or more specifically in China.
- Any input, regarding the latest number from Boeing: 22 aircraft delivered in February, and the fact that there was no 787 jet deliveries for the fourth straight month.
Dhierin Bechai profile picture
@altduarte I can't address it in detail in a comment and there also are too many uncertainties that drive the capacity plans as well as global variation. I think that many airlines could scale up to use up to 70-80 percent of capacity relatively quickly, but I fear we might be closer to half of that especially in Europe.
On the MAX, there is no timeline... the recertification is driven by politics at this stage.
Absence of Dreamliners in the deliveries is what was to be expected. So no surprise there. I will be looking in detail on the OD numbers for Boeing in a piece.
Patient Number 9 profile picture
Thanks for the insights and update. As an ex-employee of Airbus and a current investor I always appreciate and look forward to your articles.
Dhierin Bechai profile picture
@rffranks60 Thank you for reading, Frank! Glad you enjoy the articles.
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