Cash Returned, Capacity Required
Can Airbus Execute a €5 Billion Buyback while Converting Its Defence Backlog into Industrial Output?
On 21 July 2026 Airbus SE announced that its Board of Directors had approved a share buyback programme of €5 billion over three years, alongside a 2029 target of €12 billion to €13 billion of EBIT Adjusted and a reiterated cash-conversion objective of around one over a five-year horizon. The sum sits against a group that closed 2025 with a net cash posi…