EADS changes name to Airbus Group
EADS confirmed that it will undergo a name change. The European aircraft maker announced that it will now be called Airbus Group. A Reuters report said that the company will also adopt "the look and feel of its arch-rival Boeing in a bid to become more competitive." Together with the name change, the EADS also announced that it will reorganize. It will fuse its defense and space activities as well as its Airbus Military transporters as a single division. The company also said that it will raise its target for orders in 2013 to more than 1,000 aircraft, a 25% increase from its previous target.
Last year, its rival Boeing out-ordered and out-delivered EADS. The latter hoped to regain the top spot with its moves, which came after its strategy review. For the second quarter, its operating profit increased to USD 1.18 billion which represents a 23% rise. It had revenues of USD 13.945 billion.