EADS raises forecast despite slow start

AIRBUS’ parent company, EADS, has revealed that its first year net profit halved from the year before, but that it is optimistic for the rest of the year following a rush of orders.

EADS made €185 million ($241.3 million) for the first half of the year, down from €378 million in 2009. Revenue in the first half was one per cent higher at €20.31 billion, compared with €20.2 billion a year earlier.

EADS said it now expects more than 400 new orders for Airbus commercial jets in 2010, up from an earlier forecast of between 250 and 300, on the back of rising air cargo demand.