European Defence and Space Company (EADS), the parent company of French jet maker Airbus, has decided to rename itself as Airbus Group.
Tom Enders, CEO of EADS, said: “The renaming simply gathers the entire company under the best brand we have, one that stands for internationalisation, innovation and integration - and also for some two thirds of our revenues. It reinforces the message that ‘we make things fly’.”
As part of restructuring, the Airbus Group will have three divisions namely Airbus, Airbus Defence & Space, and Airbus Helicopters in order to increase profitability and improve market position.
Airbus division will be responsible for all commercial aircraft activities.
Airbus Defence & Space will be based in Munich, Germany with around 45,000 employees. The division, which will be led by Bernhard Gerwertm, will include four business segments - military aircraft, space systems, communication, intelligence & security systems, and equipment.
In a statement, the company said: “This structural change will provide optimised market access, cost and market synergies and improved competitiveness overall. It will also provide better visibility on the European leader in space and defence.”
Implementation of re-organisation plan will begin phase wise starting from 1 January 2014, and will be completed in the second half of 2014.