Business Aviation: European Court Annuls Exclusion from Green Taxonomy
The European Union Court annulled on Monday the exclusion of business aircraft manufacturing from the European green taxonomy, a decision made by the Commission in 2023. This annulment acknowledges the unique characteristics of the segment and the potential of sustainable fuels.
The European Union Court decided to annul the exclusion imposed in 2023 by the European Commission on the manufacturing of business aircraft within the green taxonomy. The judgment recognizes that the initial decision evidently did not consider the unique characteristics of business aviation and its role in certain missions. According to a statement from Dassault, the court acknowledges the flexibility, speed, and connectivity of business aircraft as factors justifying this reexamination. This official recognition paves the way for better integration of the segment into the framework of European sustainable investment classification.
Insufficient Consideration of Sustainable Fuels
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According to the judgment, the European Commission had not sufficiently considered the possibility of using SAF (Sustainable Aviation Fuels) in its 2023 assessment. This omission proved crucial in the annulment of the exclusion, as the use of sustainable fuels represents a means of environmental improvement for the segment.
SectorAéronautique et Défense›Aéronautique / spatiale
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Context
Period
Period: S1 2026
Key reported figures
Revenue: 4 157 millions d'euros
Quarterly revenue: 4 157 millions d'euros
Revenue growth: 45,7 %
Net income: 361,6 millions d'euros
-10 099 millions d'euros
Guidance from the release
La guidance 2026 est inchangée : chiffre d'affaires 2026 en hausse
Risks mentioned
Carnet de commandes en léger repli (45,4 Md€ vs 46,6 Md€) malgré la livraison de 23 Falcon au S1 2026
Arrêt du programme SCAF/NGF en coopération franco-allemande, avec alternative à définir
Réduction des prises de commandes Défense (1 024 M€ vs 7 172 M€) liée à l'absence de nouvelle grande commande Rafale
Opportunities identified
Accélération de la livraison de Rafale Export : 12 Rafale livrées au S1 2026 (10 Export + 2 France) vs 7 au S1 2025
Négociation pour contrat de 114 Rafale avec l'Inde (Decision d'entrer en négociation gré à gré)
Programme Falcon 10X en phase d'essais en vol depuis juin 2026, entrée en service prévue 2029
Outlook / guidance
Expected revenue: 8 500 millions d'euros
Management commentary: chiffre d'affaires 2026 en hausse par rapport à celui de 2025, classe 8,5 milliards d'euros (dont la livraison de 40 Falcon et 28 Rafale)
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