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RNS Number : 3334M

Rolls-Royce Holdings plc

15 July 2014

 



15 July 2014

ROLLS-ROYCE TRENT 700 ENGINES TO POWER LEASED AIRCRAFT TO BE OPERATED BY KUWAIT AIRWAYS

Rolls-Royce Trent 700 engines will power five new A330 aircraft that will be leased by Airbus to Kuwait Airways.

The engines will be the first Trents to enter service with the airline. In addition, the airline has ordered long-term TotalCare® support for the engines, its first long-term services agreement.

In December 2013 Kuwait Airways ordered ten Airbus A350 XWB aircraft, which will be powered by the Rolls-Royce Trent XWB, the world's most efficient large civil engine.

Dominic Horwood, Rolls-Royce, Chief Customer Officer, Civil Large Engines, said: "The Trent 700 continues to be the engine of choice for the A330 with performance and service support that make real improvements to our customers' economics. We look forward to supporting Kuwait Airways in service for many years to come. "

The Trent 700, the only engine specifically designed for the A330, is the market leader on the aircraft with nearly 70 per cent of new orders over the last three years. More than 1,500 Trent 700s are either in service or on order.

About Rolls-Royce Holdings plc

1.   Rolls-Royce's vision is to create better power for a changing world via two main business segments, Aerospace and Marine & Industrial Power Systems (MIPS). These business segments address markets with two strong technology platforms, gas turbines and reciprocating engines, for use on land, at sea and in the air.

2.   Aerospace comprises Civil Aerospace and Defence Aerospace. MIPS comprises Marine, Energy & Nuclear and Power Systems (RRPS). On 7 March 2014, Daimler announced their intention to exercise their option to sell their 50% share in RRPS to Rolls-Royce Holdings plc. On 16 April 2014, the valuation was agreed and the transaction is expected to complete within the coming months, subject to the usual regulatory approvals. On 6 May 2014 Rolls-Royce announced it had signed an agreement to sell its Energy gas turbine and compressor business to Siemens for a £785m cash consideration. On completion, expected before the end of December 2014, Rolls-Royce will receive a further £200 million for a 25 year licensing agreement.

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 1,600 energy 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 £15.5 billion in 2013, around half of which came from the provision of aftermarket services. The firm and announced order book stood at £71.6 billion at 31 December 2013.

6.   In 2013, Rolls-Royce invested £1.1 billion on research and development. We also support a global network of 31 University Technology Centres, which position Rolls-Royce engineers with the forefront of scientific research.

7.   Rolls-Royce employs over 55,000 people in 45 countries. Over 17,000 of these are engineers.

8.   The Group has a strong commitment to apprentice and graduate recruitment and to further developing employee skills. In 2013 we employed 379 graduates and 288 apprentices through our worldwide training programmes.

For further information, please contact:

Investors:

Simon Goodson
Director, Investor Relations

Rolls-Royce plc

Tel:      [phone]

Email: [e-mail]

Media:

Richard Wray
Director of External Communications

Rolls-Royce plc
Tel:      [phone]
Mobile [phone]
Email:  [e-mail]

www.Rolls-Royce.com

 

 

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