Airbus Group lines up a big rise in passenger plane production

Marion Dakers
AIRBUS will chase more jet orders in the next few years, the company formerly known as EADS said yesterday as it unveiled a 21 per cent rise in underlying profits.

The firm, which competes with Boeing for commercial plane orders, said it aims to deliver 46 planes a month by the second quarter of 2016, up from 42 now.

However, the group’s results for 2013 included a €434m (£260m) charge to reflect the increased cost of producing the larger Airbus A350 jets, as well as a €292m provision for the restructuring of the firm.

Operating profit before one-off items rose 21 per cent to €3.6bn, while revenues rose five per cent to €59.3bn.

For the coming year, Airbus predicted flat revenues and moderate margin improvements, before returning seven to eight per cent by 2015. “There is maybe a slight disappointment with 2014 margin guidance but investors will be more focused on next year and 2016,” said Societe Generale analyst Zafar Khan. Shares closed up 1.6 per cent at €53.97.

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