EADS to rename itself Airbus Group

PanARMENIAN.Net - EADS, the parent company of Airbus, says it is to rename itself after its commercial plane-making subsidiary. It will be called Airbus Group and have three divisions; commercial aircraft, defence and space, and helicopters, BBC News reported.

EADS said the move would "enhance integration and cohesion by renaming the group and its divisions using the globally recognised Airbus brand".

Implementation of the change will start in January and is set to be completed in the second half of 2014.

"The renaming simply gathers the entire company under the best brand we have, one that stands for internationalisation, innovation and integration - and also for some two-thirds of our revenues," said EADS chief executive Tom Enders. "It reinforces the message that 'we make things fly'."

The announcement 'came as EADS revealed that second quarter net profits rose by 14% to 518m euros ($686m), It also said that in the first six months of 2013, Airbus Commercial recorded 722 net aircraft orders, compared with 230 net orders in the first half of 2012.

EADS also said that Airbus "had a successful Paris Air Show, receiving firm orders for 241 aircraft".

The firm has raised the 2013 order target for its Airbus unit by 25% to more than 1,000 aircraft. But it said that due to lower A380 deliveries during the year, EADS revenues "should see moderate growth in 2013".

Airbus is in an ongoing battle with Boeing for supremacy in the annual jet aircraft market. Its US rival grabbed the top spot in both orders and deliveries in 2012.

EADS said it was making significant progress on its Airbus A350 XWB long-range, two-engined wide-bodied airliner.

It said that following the aircraft's first flight in June "first tests of all major aircraft systems have been successfully performed" and that the company was "now entering the most critical phase of the A350 program".

"The industrial ramp up preparation is under way and risks related to the ramp up are being closely monitored in line with the schedule, aircraft performance and overall cost envelope," it added.