EADS profits up on jet order rise

Marion Dakers
EADS, the parent company of plane maker Airbus, yesterday lifted its forecasts for jet sales as profits and spending both jumped.

The Paris-based firm said revenues rose seven per cent to €40bn (£33.5bn) while earnings before one-offs jumped 22 per cent to €2.3bn in the first nine months of the year.

Due to the popularity of its commercial planes including the A380, EADS has raised its order forecast for the year to above 1,200 aircraft, with 620 delivered this year.

But it added that this growth will slow next year, and the rise in orders and developments had led to negative free cash flow of €1.5bn this year, having expected to break even.