Re Contract

RNS Number : 4153Q

Rolls-Royce Holdings plc

17 June 2015

 



17 June 2015

ROLLS-ROYCE TRENT 1000 ENGINES WORTH $500M

TO POWER ETHIOPIAN AIRLINES

Ethiopian Airlines has decided to take Rolls-Royce Trent 1000 engines and long-term TotalCare® support worth $500m to power six Boeing 787-8 Dreamliner aircraft.

The decision marks a significant vote of confidence in the Trent 1000, Ethiopian having previously selected engines from another provider to power 13 Boeing 787 Dreamliner aircraft.

Tewolde Gebremariam, Ethiopian Airlines, Chief Executive Officer, said: "We are pleased that the Trent 1000 will power this latest round of aircraft. We have confidence that it will deliver outstanding lifetime fuel burn, performance and reliability."

Dominic Horwood, Rolls-Royce, Chief Customer Officer - Civil Large Engines, said: "This is a significant selection by a valued customer that continues the Trent 1000 success story. We have real momentum in the marketplace - in the last five years the Trent 1000 has been selected in more than 60 per cent of engine competitions."

Rolls-Royce powered the very first Boeing 787 test flight in December 2009, the first 787-8 to enter service in October 2011, and the first 787-9 to enter service, in 2014.

Ethiopian has ordered Trent XWB engines to power 12 Airbus A350 XWB aircraft and has three RB211-powered Boeing 757 aircraft in service.

About Rolls-Royce Holdings plc

1.   The order announced today will result in an increase in the Group's order book of $400m, in accordance with Group accounting policy.

2.   Rolls-Royce's vision is to create better power for a changing world via two main business divisions, Aerospace and Land & Sea. These business divisions address markets with two strong technology platforms, gas turbines and reciprocating engines. Aerospace comprises Civil Aerospace and Defence Aerospace. Land & Sea comprises Marine, Nuclear and Power Systems.

3.   Rolls-Royce has customers in more than 120 countries, comprising more than 380 airlines and leasing customers, 160 armed forces, 4,000 marine customers including 70 navies, and more than 5,000 power and nuclear customers.

4.   Our business is focused on the 4Cs:

·      Customer - placing the customer at the heart of our business

·      Concentration - deciding where to grow and where not to

·      Cost - continually looking to increase efficiency

·      Cash - improving financial performance.

5.   Annual underlying revenue was £14.6 billion in 2014, around half of which came from the provision of aftermarket services. The firm and announced order book stood at £73.7 billion at the end of 2014.

6.   In 2014, Rolls-Royce invested £1.2 billion on research and development. We also support a global network of 31 University Technology Centres, which position Rolls-Royce engineers at the forefront of scientific research.

7.   Rolls-Royce employs over 54,000 people in more than 50 countries. Over 15,500 of these are engineers.

8.   The Group has a strong commitment to apprentice and graduate recruitment and to further developing employee skills. In 2014 we employed 354 graduates and 357 apprentices through our worldwide training programmes. Globally we have over 1,000 Rolls-Royce STEM ambassadors who are actively involved in education programmes and activities; we have set ourselves a target to reach 6 million people through our STEM outreach activities by 2020.

For further information, please contact:

Investors:                                                   

Jilinda Crowley                                 

Acting Director - Investor Relations                                       

Rolls-Royce plc                                                                     

Tel: [phone]                                                      

[e-mail] 

Media:

Richard Wray

Director of External Communications

Rolls-Royce plc

Tel: [phone]

[e-mail]

www.Rolls-Royce.com

 

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