Rolls-Royce Lands $2.2B Trent 700 Engine Contracts from Saudia and International AirFinance

Rolls-Royce announced that they have secured contracts from International AirFinance (IAFC) and Saudi Arabia's national carrier Saudi Arabian Airlines (Saudia) worth more than USD$2.2 billion. These contracts call for Rolls-Royce to deliver their Trent 700 engines to IAFC’s 20 Airbus A330 regional aircraft which is being leased to Saudia. In a deal with Airbus that took place last month, IAFC and Saudia purchased 30 A320-200 and 20 A330 aircraft. Currently, Saudia operates 12 of the A330s and will now become the launch operator of the A330-300.

According to a statement released by Rolls-Royce, the Trent 700 engine leads the A330 market with over 60% of new orders over the last three years. Eric Schulz, the civil large engines president at Rolls-Royce, said, "We welcome our customer's continued confidence in the Trent 700 as the best solution for fuel burn, emissions and noise performance as well as delivering unrivalled reliability for Middle East operations.”

Moulay Omar Alaoui, President and CEO of IAFC backed Schulz’s statement by saying, "We selected the Trent 700 as the best solution in terms of economics and reliability."

Currently, the Trent 700 engine accounts for 90% of A330 freighters in service and on order. More than 1,500 Trent 700s are now in service or on firm order, making it the largest in-service Trent engine. Rolls-Royce will soon shift its focus from the Trent 700 engine to the newer Trent 7000 engine, which will go in the new Airbus A330neo aircraft. The A330neo is expected to enter service in 2017.

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