Airbus reports increase in activity, strong net profit rise

European aircraft manufacturer, Airbus, on Wednesday said it had record activity in 2013 and reported a 22 percent hike in net profit to Euros 1.5 billion (just over USD 2.03 billion) compared with year earlier results. Airbus said it had over USD 300 billion in new orders during last year and increased net and operating profit above 20 percent despite development costs and write-offs of over Euros 400 million. In order to meet rising demand, Airbus said in a separate statement that it was ramping up production of its most popular, single-aisle, A320, a short-to-medium ranger carrier. Airbus says that it will aim to produce 46 of the A320s per month early in 2016 compared with 42 today. Kuwait has signed an agreement to purchase Airbus planes and has ordered 25 A350 and A320neo aircraft as part of a modernisation programme.