Airbus welcomes 'normality' as profits soar to €1.5bn
Mark Leftly is political correspondent at The Independent on Sunday and associate business editor across the Independent titles. He writes a weekly column, Parliamentary Business, published on a Wednesday, that covers politics and the City. He is a multi-award winning reporter and was named Press Gazette's business magazine journalist of the year prior to joining The Independent on Sunday.
Thursday 27 February 2014
Airbus, the pan-European aeroplane giant that employs more than 17,000 in the UK, has hailed its transition to a "normal company" after axing a burdensome political ownership structure.
The chief executive, Tom Enders, was thwarted by the German Chancellor, Angela Merkel, in his attempt to create a European aerospace and defence empire when she vetoed plans to merge with BAE Systems in 2012.
He changed the share structure to diminish French and German influence and changed the group's name from EADS to Airbus, the aircraft for which the company is famous. Profit soared 22 per cent to €1.5bn (£1.2bn) in the 2013 results yesterday.
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