Dassault Aviation Logs Slump in 1st Half Orders — Update

By Mauro Orru

Dassault Aviation booked sharply lower orders in the first half of the year as the group didn't log a single booking for its Rafale fighter jet, though its Falcon business aircraft remained popular.

The French aerospace company reported orders of 2.88 billion euros ($3.28 billion), down from nearly 8.08 billion euros a year earlier and below analysts' forecast of 3.16 billion euros, according to Visible Alpha.

Clients didn't place any bookings for the Rafale, but ordered 23 Falcon jets. The group has 208 Rafale and 83 Falcon aircraft in its backlog, which amounted to 45.36 billion euros at the end of June. The company is seeking to deliver 40 Falcon and 28 Rafale jets this year: it dispatched 13 Falcon and 12 Rafale planes in the first half.

Despite the lack of Rafale orders, appetite for fighter jets hasn't vanished: Last week, French President Emmanuel Macron and Ukrainian President Volodymyr Zelensky announced an agreement that would grant Kyiv access to a suite of advanced French military technology, including the acquisition of 16 Rafale jets.

"The military and geopolitical contexts remain marked by the crisis situation in the Gulf and the continuing war in Ukraine," Chief Executive Eric Trappier said.

The group also said it was working to finalize a contract for India to acquire 114 of its Rafale fighter jets.

Meanwhile, the group said discussions with the French government were underway to find an alternative to the Future Combat Air System program, or FCAS, an initiative to build a sixth-generation manned fighter jet by 2040. France and Germany recently halted that program--which included Airbus, Dassault Aviation and Indra Sistemas--after a spat between Airbus and Dassault Aviation over which company should take the lead on the fighter jet's development was never resolved.

FCAS's stalemate stands in stark contrast with a rival initiative known as the Global Combat Air Program, or GCAP, which aims to deliver by 2035 a new aircraft equipped with cutting-edge technologies powerful enough to fend off potential threats over the next few decades. Earlier this month, the U.K.'s BAE Systems, Italy's Leonardo and Japan's Mitsubishi Heavy Industries secured a contract to develop a new stealth fighter jet under GCAP.

Dassault Aviation's sales grew to 4.16 billion euros in the first half from 2.85 billion euros a year earlier, while operating profit climbed to 330 million euros from 180 million euros. Analysts had forecast 3.33 billion euros in sales and 243 million euros in operating profit, according to Visible Alpha. The figures are adjusted for gains and losses from hedging instruments, foreign exchange derivatives and other items.

The group said it continued to project sales of roughly 8.5 billion euros this year.

Write to Mauro Orru at mauro.orru@wsj.com

(END) Dow Jones Newswires

July 22, 2026 12:48 ET (16:48 GMT)