July 31, 2013 / 5:18 AM / 4 years ago

EADS changes name to Airbus, raises jet order target

PARIS, July 31 (Reuters) - Europe’s EADS on Wednesday confirmed plans to reorganize into three divisions and adopt the name of its planemaker unit Airbus in a bid to unite its businesses and boost shareholder returns.

EADS will be called Airbus Group and will combine defence and space activities in one division that will also contain the Airbus Military business currently twinned with passenger jets.

The announcement came as EADS also confirmed a 25 percent increase in its 2013 order target for the core Airbus unit to more than 1,000 aircraft and reaffirmed other group targets.

First-half underlying operating profit rose by more than expected to 1.6 billion euros ($2.12 billion) on revenue of 26.3 billion.

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