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Airbus parent reports higher 3rd quarter profit

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November 14, 2013 01:46 AM EST | AP


PARIS (AP) — Airbus parent company EADS says its profits increased a hefty 45 percent in the third quarter driven by strong commercial aircraft demand.

But the European jet maker warned that its free cash flow, a measure of cash generated by a business, would be negative 1.5 billion euros ($2 billion) this year because of investment into lifting production and development of programs such as the A350 long-range wide body, which is supposed to enter service in the second half of next year.

Previously, the company had said its free cash flow would break even this year, compared to positive 1.5 billion euros last year.

In a statement Thursday EADS said net profit for the July-September quarter rose to 436 million euros, up from 301 million euros a year earlier.