Rolls-Royce wins EgyptAir order

Rolls-Royce wins EgyptAir order

Rolls-Royce has won a £600m contract
Jet engine maker Rolls-Royce has won a £90m order from airline EgyptAir for its Trent 700 engines.
Derby-based Rolls-Royce, the world’s second-largest commercial jet engine maker, said the deal involved firm orders for seven twin-jet engines, with deliveries due to start in June 2004.

The contract follows a £600m order from Emirates on Monday – both signed at the Paris Air Show.

Mike Terrett, president of the firm’s civil aerospace arm, said the company maintained its forecast for a flat market in 2003 for civil engine delivery.

Trough year

But he said the market could stop shrinking in 2004.

“We are being very cautious about 2004,” Terrett said.

“We are not making a forecast but if history repeats itself, 2004 could very well be the trough year.”

A record downturn for airlines hit Rolls-Royce’s civil aero-engine sales in 2002, with deliveries dropping 37% to 856.

Civil engines make up a quarter of the firm’s total sales.