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Airbus helps EADS to boost profits


Airbus helps EADS to boost profits


EADS, the Franco-German-Spanish parent company of plane maker Airbus, has reported healthy earnings growth in the first three months of the year.However a cautious management said it is not revising its operating forecast profit for this year.

Cost cuts have been vital as the group struggles with the effects of a weak US dollar. EADS co-chief executive Philippe Camus said: “We have maintained a high level of investments and thanks to the industrial optimisation, cost saving plans, order book and investments, EADS has a solid and healthy base to build from.” Net profit was 328 million euros compared with 49 million for the same period last year. EADS took in orders worth almost nine billion euros in the first quarter, while sales were up by 16% to seven billion euros. The space division, which makes the Ariane rocket, lost six million euros in the first quarter, though EADS says it should make a profit this year. But it is Airbus that remains the star. EADS said that “the successful first flight of the A380 demonstrates the potential for further strong revenues.” Airbus delivered 87 planes in the first quarter compared with 67 in the same period last year and at the same time its US rival Boeing delivered 70. It is also expected to soon announce another order for 50 planes from Dubai’s Emirates airline.
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