Rolls-Royce cheers aerospace sector
THE Midlands’ aerospace sector has been given a much-needed shot-in-the-arm with the announcement by aero-engine manufacturer Rolls-Royce of another key order.
The sector, which is crucial to the region’s manufacturing economy, was left floundering last week when Black Country-based Hampson Industries announced a profits warning due to a stalling of orders.
The company, which manufactures composite materials for the next generation of airliners and services existing planes, lost more than 60% of its share value and has struggled to re-establish itself in the following days.
Rolls-Royce – for so long a key barometer for the health of the sector – has secured a share of an order from new leasing company Air Lease Corporation (ALC) for V2500 engines to power 30 Airbus A320 aircraft. The contract is worth $175m (£112m).
Deliveries of the aircraft, ordered at the resent Farnborough Airshow , are scheduled to start in 2011.
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ALC was founded earlier this year, raising capital to acquire a new portfolio of aircraft and aims to have 100 aircraft by spring 2011.
The V2500 is produced by the International Aero Engines consortium (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 – 33,000lb thrust V2500 powers the Airbus A319, A320 and A321 family of aircraft as well as the A319 Corporate Jet. More than 6,000 V2500 engines are in service or on firm order worldwide.
