Rolls-Royce Gets $250 Million Share In China Southern Airlines Deal

Date : 06/20/2011 @ 10:49AM
Source : Dow Jones News
Stock : China Southern Airlines Company Limited (ZNH)
Quote : 56.96  0.0 (0.00%) @ 9:13AM

Rolls-Royce Gets $250 Million Share In China Southern Airlines Deal

Rolls-Royce (LSE:RR.)
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Rolls-Royce Holdings PLC (RR.LN), a global power systems company, has won a share of an order from China Southern Airlines for V2500 engines to power 30 Airbus A320 aircraft.


-The contract includes a long-term engine maintenance agreement.

-The value of the contract to Rolls-Royce is over $250 million.

-The V2500 is produced by the International Aero Engines consortium or IAE in which Rolls-Royce is a senior shareholder.

-IAE's other partners are Pratt & Whitney, the Japanese Aero Engines Corporation and MTU Aero Engines.

-The 22,000 - 33,000 pounds thrust V2500 powers the Airbus A319, A320 and A321 family of aircraft as well as the Airbus Corporate Jetliner.

-Nearly 6,500 V2500 engines are in service or on firm order worldwide.

-Shares at 1414 GMT down 4.0 pence, or 0.7%, at 594.5 pence.

-By Zechariah Hemans, Dow Jones Newswires; 44-20-7842-9411;

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