Airbus parent in return to profits despite squeeze on airlines

Airbus parent, European Aeronautic Defence and Space Co (EADS), returned to profit in the first nine months on sales of the A380.

It said today that revenue rose 7 per cent in the first nine months despite a squeeze on global airlines.


On the up: Airbus owner EADS has returned to profit

Net profit was €1.08billion (£941.5million) versus a €705million loss a year earlier.

The company had strong orders across its products, with 737 new aircraft orders at Airbus and 605 new helicopters at Eurocopter.

In all they were worth €88.7billion, against €82.4billion this time last year.

Chief executive Louis Gallois expects to weather the financial crisis with a strong cash position. But the company is cautious on the current climate.

It said: 'The slowdown in economic growth and the resulting strong decrease in (global) air traffic have overshadowed the recovery of the US dollar versus the euro and the reduction in oil price since the summer.'

No comments have so far been submitted. Why not be the first to send us your thoughts, or debate this issue live on our message boards.

We are no longer accepting comments on this article.

Who is this week's top commenter? Find out now