Rolls-Royce boosted by £1.2bn deal
Sunday November 15 2009
Rolls-Royce unveiled a major boost to its order book after agreeing deals for new engines with Air China and Ethiopian Airlines.
The Derby and Bristol-based company announced the orders worth a combined 2 billion US dollars (£1.2 billion) on the first day of the Dubai Air Show.
Air China, the national flag carrier of China with a fleet of 243 aircraft, has placed an order for the company's Trent 700 engines to power 20 A330 aircraft being delivered from 2011.
Rolls said the deal, which includes service support, was worth around 1.5 billion US dollars (£900 million).
Ethiopian's order covers Trent engines for 12 A350 wide-body planes that will begin service in 2017.
The deal, which is worth 480 million US dollars (£288 million), takes sales of the Trent XWB, the fastest-selling Trent engine, past 1,000.
Rolls said the engine was the most fuel efficient and environmentally sensitive large engine design on the market, with fuel efficiency ratings 28% higher than pre-Trent generation engines.
The company added that Air China's order meant its Trent 700 had been selected 14 times by nine customers to power a total of 178 A330s in service or on order.
Rolls' order book stood at £57.5 billion at the end of June, with the aerospace division accounting for around £46.7 billion.
Airlines have suffered because of last year's oil price rises and lower demand and Rolls-Royce said in July that delays on the Airbus A380 and Boeing 787 wide-body programmes had also added to uncertainty. But the delays have generated stronger demand for existing wide-body products, where it has a strong position.
Press Association
