Rolls-Royce and Pratt & Whitney announce new partnership and IAE collaboration is restructured
13 October 2011
Rolls-Royce and Pratt & Whitney have formed a new partnership to power future mid-size aircraft. The two companies will establish a joint venture company, in which each will hold an equal share, to develop new engines for the next generation of aircraft that will replace the existing mid-size fleet. This new joint venture will focus on high bypass ratio geared turbofan technology, and future studies for next generation propulsion systems.
The IAE V2500, of which Rolls-Royce is a major partner powers the Airbus A320
As well as establishing the new partnership, Rolls-Royce and Pratt & Whitney will restructure their participation in IAE, which produces the V2500 engine for the A320 family of aircraft. Under the terms of the agreement Rolls-Royce will sell its equity and programme shares in IAE to Pratt & Whitney for $1.5 billion and in addition receive an agreed payment for each hour flown by the current installed fleet of V2500-powered aircraft for fifteen years from completion of the transaction.
Under the continuing leadership of Pratt & Whitney, JAEC, and MTU, IAE will continue to deliver product and customer support without interruption. Rolls-Royce remains committed to IAE and its customers and will continue to be responsible for the manufacture of high-pressure compressors, fan blades and discs as well as the provision of engineering support and final assembly of 50 per cent of V2500 engines.
Contact Details and Archive...