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Business

Airbus earnings jump on full order books

European aviation industry giant Airbus has reported an increase in profits for the third quarter. The company said it was on track to meet its full-year targets as more lucrative orders were just around the corner.

Airbus said Friday it logged a 42-percent surge in bottom-line profit for the July-September period. Net earnings amounted to 376 million euros ($413 million), the company reported.

Third-quarter operating profit - adjusted for one-off effects – rose by 12 percent to total 921 million euros, while revenues for the same period came in at 14.1 billion euros, marking a 6-percent increase.

Airbus announced it would ramp up its production facilities in Hamburg, Germany, to cope with the growing demand for A320 passenger aircraft.

Rosy outlook

"We're on track to deliver on our full-year guidance," Airbus CEO Tom Enders said in a statement, citing a healthy commercial aircraft market.

Reuters reported Friday Airbus had signed a declaration of intent with China on the delivery of 100 H135 helicopters to the Asian nation. It said a binding agreement was to be inked within the next six months.

Also on the fringes of a two-day visit by German Chancellor Angela Merkel to China, Airbus had already

signed contracts with Chinese partners

on the delivery of 100 A320 passenger planes and 30 A330 aircraft worth 15.4 billion euros.

hg/pad (dpa, Reuters)

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