Rolls-Royce wins £750m jet engine deal
Rolls-Royce have won a massive deal worth 1.2 billion US dollars (£750 million) to supply and service jet engines for a major Chinese airline.
The British-based engineering firm also formed a carbon partnership with China Eastern Airlines, which aims to reduce greenhouse gas emissions by 190,000 tonnes in its first year. The partnership will see Rolls-Royce provide a fuel management service for the airline's fleet of more than 300 aircraft.
The agreement, contained in a memorandum of understanding signed by the companies in Beijing today, is the largest commercial fruit so far from Prime Minister David Cameron's trade mission to China.
It was signed in Mr Cameron's presence at the Great Hall of the People in Beijing.
Rolls-Royce will supply Trent 700 engines for 16 Airbus A330 aircraft, along with long-term servicing. It will also provide enhanced performance kits to upgrade the Trent 700s on China Eastern Airlines' 20 existing A330s.
Steve Miller, vice-president for China of Rolls-Royce Civil Aerospace, said: "We are delighted that China Eastern continues to put its trust in our leading-edge Trent technology underpinned by a TotalCare support package that offers operational and performance benefits. We also look forward to assisting China Eastern in its efforts to reduce its environmental impact."
Liu Shaoyong, chairman of China Eastern, said: "We have found the Trent 700 to be extremely effective in service and are pleased to select it for our latest aircraft.
"We also look forward to working with Rolls-Royce through our carbon partnership which we anticipate will reduce fuel consumption by at least 2% in its first year alone, the equivalent of a 190,000-tonne reduction in CO2, which equates to the amount of CO2 produced by 80,000 cars over the same period."
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