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Rolls-Royce in $2bn engine orders Rolls-Royce in $2bn engine orders
(20 minutes later)
UK engineering firm Rolls-Royce says it has won orders to make $2bn(£1.2bn) of aircraft engines to power Airbus planes for Air China and Ethiopian Airlines.UK engineering firm Rolls-Royce says it has won orders to make $2bn(£1.2bn) of aircraft engines to power Airbus planes for Air China and Ethiopian Airlines.
The orders were announced on the first day of the Dubai Airshow on Sunday.The orders were announced on the first day of the Dubai Airshow on Sunday.
The $1.5bn Air China order involves providing Trent 700 engines to power 20 A330 aircraft that will be delivered from 2011.The $1.5bn Air China order involves providing Trent 700 engines to power 20 A330 aircraft that will be delivered from 2011.
And the $480m Ethiopian order covers Trent XWB engines for 12 A350-900s planes that will begin service in 2017.And the $480m Ethiopian order covers Trent XWB engines for 12 A350-900s planes that will begin service in 2017.
Ethiopian Airlines is poised to announce a near-$3bn Airbus aircraft order, say industry experts.Ethiopian Airlines is poised to announce a near-$3bn Airbus aircraft order, say industry experts.
The airline made an initial draft request for the dozen A350-900s in July and is expected to confirm the deal at the air show, the biggest in the Middle East.The airline made an initial draft request for the dozen A350-900s in July and is expected to confirm the deal at the air show, the biggest in the Middle East.
Airlines have been hit hard during the recession, so the order for engines is welcome news for Rolls-Royce. Best-selling engines
Airlines have been hit hard during the recession, so the order for engines is welcome news for Rolls-Royce, which has factories in Derby and Bristol making engines, and one in Sunderland making areo-engine components.
The Ethiopian order means Rolls-Royce has sold more than 1,000 of its best-selling XWB engines.The Ethiopian order means Rolls-Royce has sold more than 1,000 of its best-selling XWB engines.
In the summer the firm said it was on track to meet its full-year financial targets. The firm has said the XWB is the most fuel efficient and environmentally sensitive large engine design on the market, with fuel efficiency ratings 28% higher than pre-Trent generation engines.
In the summer the firm said it was on track to meet its full-year financial targets, but warned that delays on the Airbus A380 and Boeing 787 wide-body programmes had added an element of uncertainty.
However, the delays have created more demand for existing wide-body products, where it has a strong position.