Airbus SE (EADSY), a European aircraft manufacturer, expects adjusted annual operating profit to reach between 12 billion ($13.7 billion) and 13 billion by 2029 as persistent production constraints move closer to being resolved. The company also plans to begin a 5 billion share buyback over the next three years, potentially giving Airbus greater flexibility to return capital to investors while pursuing acquisitions. Airbus shares rose as much as 5% in early Paris trading on Wednesday, their strongest advance since early May, after remaining nearly unchanged this year following a 28% gain in 2025.

Airbus expects its commercial aviation business to generate about 10 billion of operating profit by 2029, compared with 5.5 billion last year, while its defense and space division is projected to contribute 1.3 billion and its helicopter unit about 1.2 billion. The company plans to produce 70 to 75 A320-family aircraft per month in 2027, 12 A350 aircraft per month in 2028, 13 A220 aircraft per month in 2028 and five A330 aircraft per month in 2029. Lars Wagner, the head of Airbus' commercial operation, said A350 production could move well beyond the planned monthly rate of 12, although expanding beyond that level would require investment in another final assembly line.

The improving outlook could provide Airbus with additional financial capacity to invest in production, pursue significant but non-transformative transactions and return cash to shareholders as it presses its advantage against Boeing Co. NYSE:BA, its rival aircraft manufacturer. Airbus is also examining longer versions of the A220 and A350 as customers increasingly shift toward larger aircraft, while potential acquisition opportunities may include services. The company maintained its near-term targets of about 870 aircraft deliveries, approximately 7.5 billion in adjusted operating profit and roughly 4.5 billion in free cash flow this year, although its longer-term goals assume no additional disruption to global trade, the economy, air traffic, supply chains, internal operations or product deliveries.