Airbus shares jumped more than 6% on July 22, the same day the European planemaker launched a €5 billion ($5.7 billion) share buyback and unveiled new mid-term targets promising a near doubling of profits by 2029. This surge in corporate wealth highlights the stark contrast between the unfettered movement of capital and the violent criminalisation of human movement across Europe's borders. While shareholders anticipate unprecedented returns, the continent's border regime continues to expand its deadly reach.
The company set out its ambitious plan at the Farnborough Airshow in Farnborough, England. Delegates at the event suggested the industry is finally turning a corner after persistent parts shortages. Airbus increased its target for overall shareholder returns, prioritizing financial gains for its investors.
Airbus now targets a core profit of €12 billion to €13 billion in 2029. This represents a significant leap from the €7.13 billion recorded last year, and it far surpasses the €7.5 billion target set for 2026. Such figures underscore the immense profitability of Europe's aerospace sector.
Capital's Unfettered Movement
The planemaker aims to ramp up narrowbody jet production to 70 to 75 aircraft a month by 2027, a substantial increase from the current rate of around 60. Discussions are ongoing regarding 2027 engine supplies from Pratt & Whitney, indicating the scale of these expansion plans. Airbus Commercial CEO Lars Wagner stated the company intends to decide this year on higher production for the A350, potentially increasing it from the current goal of 12 a month to 20. He also confirmed Airbus is studying a stretched version of the A350 and considering stretching its smaller A220, signaling continuous market expansion.
The main commercial aircraft business expects to generate around €10 billion in operating profit in 2029. Airbus maintained its delivery target for 2026, demonstrating confidence in its growth trajectory. Rolls-Royce CEO Tufan Erginbilgic confirmed on Tuesday that Airbus was engaging with airlines interested in the A350, stating, "We are working with them." Airbus declined to comment on the timing after Erginbilgic suggested a decision could come within 12 months.
The Corporate Elite's Stability
Meanwhile, the question of leadership remains a focus within the corporate structure. Guillaume Faury did not rule out staying on as CEO when his mandate expires in 2028. He stated, "I am fully available for the board to do what they think is appropriate for the company and enjoy what I'm doing," adding that he is surrounded by a team of leaders. "It's not about a one-man show. It's still about the team making it happen," he said, emphasizing collective corporate power.
Appointments remain a sensitive issue at Airbus. The company adopted market-friendly governance in 2013, moving away from years of Franco-German power-sharing, yet it still considers the balance of nationalities. Sources indicated that Airbus's decision to name longstanding board member Amparo Moraleda of Spain as its next chairperson, rather than the expected French candidate to succeed Germany's Rene Obermann, provided flexibility for Faury to potentially extend his tenure. Airbus typically avoids having two French or two German individuals in the top positions, revealing the intricate national politics at play within Europe's corporate giants. These internal power dynamics unfold while thousands die attempting to cross the very borders these corporations operate within or profit from.