Tuesday, July 31, 2012

Profits flying high for Airbus' parent firm despite a few technical hiccups

THE parent company of Airbus has announced that its profits for the last six months have almost doubled to a staggering £1 billion. 

Although the firm has been hit by two major problems it has still enjoyed one of its most successful years on record thanks to the enormous popularity of planes part-designed at its factory in Filton.

The company revealed the six-monthly figures to the French stock markets just a few weeks after it announced billions of pounds worth of orders at the Farnborough Air Show.

Much of the recent success of the firm has been built on the popularity of the new version of the A320 aeroplane which was partly designed in Filton.

Airbus employs more than 4,000 in South Gloucestershire and is one of Bristol's most important companies, according to estimates the aviation sector supports around 20,000 jobs in the city.

Airbus has become the largest aeroplane manufacturer in the world in the last 18 months overtaking its rival Boeing in the process.

And according to the latest set of figures EADS, the parent of Airbus, almost doubled profits for the first half of the year.

The figures were much better than expected.

However, it was not all good news for the firm.

The problems discovered in the wings of the A380 super-jumbo has seen a fall in orders for the plane over the coming year. As reported in the Post previously, cracks in the wings of the plane were caused by a design fault in work carried out in Filton.

EADS was also forced to admit yesterday that its long awaited A350 aircraft will also be delayed again by another three months. 

Read more here:   http://www.thisisbristol.co.uk

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