Airbus’ consolidated revenues increased by 17% to €38,592m (FY 2011: €33,103m), reflecting strong commercial aircraft deliveries. The Airbus consolidated EBIT more than doubled to €1,230m (FY 2011: €584m). Airbus Commercial revenues amounted to €36,943m (FY 2011: €31,159m), driven by record commercial deliveries of 588 (FY 2011: 534), including 30 A380s. A total of 585 deliveries were booked with revenue recognition with the remaining three placed on operating lease. Revenues also benefitted from favourable U.S. dollar rates. Airbus Commercial’s reported EBIT amounted to €1,125m (FY 2011: €543m). The Airbus Commercial EBIT before one-off of €1,647m (FY 2011: €485m) benefited from an improved operational performance including favourable volume and pricing, net of escalation. It also reflected the hedge rate improvement. The Division’s self-financed R&D expenses fell slightly to €2,442m. During 2012, Airbus Commercial registered 914 gross orders (FY 2011: 1,608 gross orders). Net orders totalled 833 (FY 2011: 1,419). These net orders comprised 739 A320 Family aircraft (ceo and neo), 85 A330/A350XWBs and nine A380s.