logo
Share SHARE
FONT-SIZE Plus   Neg

Rolls-Royce Secures $598 Mln V-22 Engine Contract - Quick Facts

Rolls-Royce Holdings Plc (RYCEY.PK,RR.L) said it won a $598 million contract from the US Department of Defense for 268 AE 1107C engines for US Marine Corps and Air Force V-22 aircraft.

As part of the deal, in the first year, Rolls-Royce will deliver 70 engines valued at $151 million. The contract includes four additional option years, with deliveries expected to total 268, including spare engines.

According to Rolls-Royce, its turbo shaft engines help provide the unique capability for the V-22, allowing the tilt-rotor aircraft to take off and land like a helicopter, and to rotate its engines forward to fly like an airplane. The V-22 aircraft can carry more troops, fly faster and has greater range than the helicopters it will replace.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Shares of Deutsche Bank AG declined around 4 percent in the morning trading after the German bank reported Wednesday sharply lower profit in its second quarter with significant one-time charges as well as weak revenues. John Cryan, CEO, said,".. if the current weak economic environment persists, we will need to be yet more ambitious in the timing and intensity of our restructuring." Shares of Airbus Group SE were gaining around 6 percent in the early morning trading in Paris after the aerospace and defense major reported Wednesday significantly higher profit in its second quarter, with positive one-offs items. Revenues, meanwhile, declined 1 percent with weakness in all segments. For fiscal 2016, the company continues to expect stable earnings per share. Shares of Apple Inc. (AAPL) gained 5 percent in extended trading session after the tech giant reported a third-quarter profit and revenues that trumped Wall Street expectations driven by higher-than-expected iPhone sales. Although, Apple reported its second year-over-year decline in iPhone sales,...
comments powered by Disqus
Follow RTT