ATR and 787 output helps Leonardo trim losses at aerostructures unit

Increased component production edges unit closer to break-even.

Leonardo reduced losses at its aerostructures business in the first half of 2026 thanks to increased manufacturing rates on two key programmes and ongoing restructuring activities.

The company’s aerostructure revenue increased 44% year on year in the first six months of 2026 to €481 million ($553 million), resulting in a €66 million loss, compared to a €96 million loss in the prior-year period.

“This is mainly due to the increased rate of production on the [Boeing] 787,” chief financial officer Giuseppe Aurilio said during a results call on 31 July.

“In 2025 we started the year at four fuselage deliveries per month. Over the year we increased up to seven, this year we have gone up to eight and we target 10 by year-end.”

Leonardo delivered 39 fuselage sections and 39 horizontal stabilisers for the 787 programme in the first half of this year, up from 30 and 20 respectively in the same period of 2025.

The aerostructures unit also shipped 20 fuselages for the ATR regional turboprop programme in the first six months, versus nine one year earlier.

Leonardo reduced losses against its 787 work by €30 million in the first half, and by €20 million on the ATR programme, Aurilio says.

“Aerostructures is partially recovering its loss… It is still a loss, but overall €50 million lower than 2025,” he notes.

Meanwhile, delivering his first quarterly results presentation since becoming chief executive earlier this year, Lorenzo Mariani says the business improvement will help Leonardo as it advances on establishing a planned aerostructures joint venture (JV).

Speaking at the Farnborough air show earlier this month, Mariani said agreeing terms with a potential partner is taking longer than expected due to current instability in the Middle East.

“We are accelerating the process of reaching a level closer to break-even,” he says of the recent increase in output. Other initiatives have included securing additional work packages, increasing efficiency at its sites and boosting quality control.

“We are concentrating even more on making the business less money-losing, and this is also providing us a benefit. When we negotiate with a less problematic business it is easier to find an agreement.”

“The plan is still to find an agreement with a potential partner to build a JV, to have a branch in the second country as well,” he says. “The [aerostructures] business will be deconsolidated, not sold.”