Airbus profit takes off in first half

Airbus cancellation levels not 'abnormal': Group CFO

Aerospace and defense firm Airbus reported a rise in both revenues and net profit for the first half on Wednesday, while confirming 2014 guidance.

Revenues hit 27.2 billion euros ($36.5 billion) in the first six months of the year, a rise of 6 percent. Second quarter sales came in at 14.55 billion euros, which beat analysts' expectations in a Dow Jones poll for 14.14 billion euros. Meanwhile, net income surged 50 percent to 1.14 billion euros.

The company said that revenues were driven by commercial aircraft and helicopter sales, adding that revenues at its defense and space units were flat. It said revenues would remain stable this year compared to 2013, but added that this outlook didn't take into consideration the revamped planes it launched at the Farnborough International Airshow earlier this month.

Shares of the company climbed 4 percent at the open of European trade on Wednesday.

Pascal Pavani | AFP | Getty Images

Read MoreBoeing shrugs off Airbus 'old technology'

Group CEO Tom Enders said the results marked a "solid improvement" in both revenues and profitability. "We saw good commercial order momentum at Farnborough and have shown our commitment to ensure the Group's long-term competitiveness," he said in Wednesday's press release.

The results come a year after the company confirmed plans to reorganize into three divisions and change its name from EADS to Airbus, which was originally the name of just its plane-making subsidiary.

But the company received a setback on Tuesday, after it cancelled its order with Japan's Skymark Airlines for six of its A380 superjumbo jets. Media reports said that the contract was terminated after the Japanese carrier indicated that it was finding it hard to stump up the cash to pay for installments. Harald Wilhelm, Airbus Group CFO, told CNBC after the results that the group has not had an "abnormal level of cancellations" but was closely monitoring the order book.

Read MoreAirbus Group CEO forecasts 100+ orders for new A330

This came after a fairly eventful week at the Farnborough International Airshow in July, where it officially launched two new additions to its wide-body family. The company claimed its A330-800neo and A330-900neo were the most cost-efficient, medium-range widebody aircraft on the market. Seen as a rival to the Boeing's much newer 787 Dreamliner, Airbus' revamped planes reduce fuel consumption by 14 percent per seat, it said.

Airbus confirmed Wednesday that it had received 121 committed orders for the A330neo at the show.

It added that it was continuing to pursue disposal options for its stake in plane maker Dassault Aviation, and the development of its A350 XWB model remained challenging.