The European Aeronautic Defense and Space Co. (EADS) on Wednesday said it will rebrand itself as the Airbus
Group, and also reported a profitable first six months of the year, with net profits increasing 31 percent to 759 million euros ($1 billion) compared to the first half of 2012.
(Airbus A350. Photo, courtesy of Airbus.
EADS said its name change will occur next year, as it looks to reflect its most popular airframe producing brand, Airbus.
According to Tom Enders, CEO of EADS, the "renaming simply gathers the entire company under the best brand we have, one that stands for internationalization, innovation and integration - and also for some two thirds of our revenues."
During the first half of 2013, Airbus reported 722 net orders, more than three times the number of orders it received during the same period last year. Commercial aircraft revenue for Airbus increased by 8 percent to $24 billion compared to last year, and the company delivered 295 civil airplanes. At the Paris Air Show, Airbus reported 241 firm orders, including 65 orders for its A350 wide body aircraft, which is currently undergoing testing and scheduled to make its debut in 2014.
EADS also revealed a strategic reorganization for all of its commercial and defense brands, as it will consist of three divisions; Airbus, responsible for all commercial aircraft activities, Airbus Defense and Space, housing all defense and space activities, and Airbus Helicopters, which will be the new name for its Eurocopter
civil and military helicopter business.
"What we are unveiling today is an evolution, not a revolution. It's the next logical step in the development of our company," Enders added in a statement.
Related: AT's Checklist