Rolls-Royce wins $1.5 billion engine order with China Eastern Airlines
Reuters
Published Aug 24, 2016 11:10AM ET
Updated Aug 24, 2016 11:20AM ET
Rolls-Royce wins $1.5 billion engine order with China Eastern Airlines
LONDON (Reuters) - British engineering company Rolls-Royce (L:RR) said it won a $1.5 billion order for its Trent 700 engines from China Eastern Airlines <600115.SS> to power 15 of the Chinese carrier's Airbus (PA:AIR) A330 aircraft.
Rolls-Royce said its Trent 700 engine had been chosen for about 70 percent of new A330 orders over the last five years.
That engine, however, is behind some of the company's current difficulties - its profit is forecast to more than halve this year - as some airline customers wait for the newer, more fuel efficient Trent 7000, which powers the A330neo, leading to lower pricing on the Trent 700.
Rolls-Royce said under the deal announced on Wednesday it would also provide China Eastern with maintenance services for the engines as part of its TotalCare offering.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.