Airbus’ profits soar with plans to sell Dassault share

Posted on 31 Jul 2014 by Victoria Fitzgerald

Aircraft manufacturer Airbus' profits increased by 50% to £903m in the first half of the year.

The company’s shares rose 3% on Wednesday.

Revenue for the same period was up 6% as the firm considers selling its 46.3% stake in military aircraft manufacturer, Dassault Aviation.

Airbus is reported to be contemplating the sale as a measure in its portfolio review.

Airbus also cancelled over 225 orders this year and at the beginning of the week the firm cancelled an order for six A380 planes with Japanese Skymark Airlines.

The cancellation comes following losing out on an order of 70 A350s with Emirates Airline, which agreed a deal with Boeing for 150 777xs.

Despite this, Airbus gained the edge over Boeing at Farnborough, winning orders for 496 planes compared to Boeing’s 201 orders.

Airbus group chief executive, Tom Enders said: “The first half of 2014 was all about keeping our main development and series program­mes on track, shown in the solid improvement in revenues and profitability.

“We saw good commercial order momentum at Farnborough and have shown our commitment to ensure the Group’s long-term competitiveness through the A330neo launch.”