Rolls-Royce Wins $6.06 Billion in Orders from Qatar Airways

Rolls-Royce PLC, the world’s second-largest aircraft engine maker, said Monday that it won orders worth a total of $6.32 billion, including a record $5.6 billion contract to supply engines to Qatar Airways.

The British company will supply Qatar Airways with engines for its new fleet of Airbus A350 aircraft with deliveries due to begin in 2013, Rolls-Royce said in a statement. The pact also provides for a long-term services contract for an undisclosed duration.

“This is an extremely significant order from one of the world’s most forward-looking airlines,” said Chief Executive John Rose.

Separately, Rolls-Royce said it won contracts to supply five engines to International Lease Finance Corp. and two to Flyglobespan along with $180 million worth of business with China’s Hainan Airlines and $260 million with China Eastern Airlines.

Shares in Rolls-Royce, which competes for Airbus’ business alongside companies such as General Electric Co. and United Technologies Corp.’s Pratt & Whitney, gained 0.8 percent to 551 pence ($10.89) on the London Stock Exchange.

Source: SF Gate
http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2007/06/18/financial/f081051D50.DTL&type=business

~ by Sohail on June 19, 2007.