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Airbus owner sits on $10.6bn cash pile

Industry experts have welcomed the news of ramped-up A320 production by Airbus

Thanks to a rise in new orders EADS, the owner of European aircraft maker Airbus, has built up an impressive cash pile of $10.6bn to mark the end of the first financial quarter.

The manufacturer intends to increase the number of its popular A320s it produces to 40 per month – the number currently stands at 36.

According to Hans Peter Ring, EADS’s chief financial officer, this rate of production may yet increase further – a decision on this is expected soon. The company took €6.3bn of new orders in the quarter, taking its future production bookings to €422bn.

Airbus announced last month that it was accelerating plans to introduce an upgraded version of the A320 after strong interest in a new type of fuel-efficient engine that will power the aircraft.