Rolls-Royce withdraws from Boeing’s new mid-market engine race, hikes Trent charges

Rolls-Royce said that they had withdrawn from a competition that intends to power Boeing’s planned mid-market aircraft, as per the reuters reports. They took the decision since it could not meet the timetable, as costs related to its Trent 1000 engine resulted in a full-year operating loss of 1.16 billion pounds.

Reports says that Boeing has proposed to launch a new mid-sized jetliner to fill a gap between the narrow and wide-body aircraft. Rolls-Royce said that “We are unable to commit to the proposed timetable to ensure we have a sufficiently mature product which supports Boeing’s ambition for the aircraft,”

The aerospace engineer said that it had increased the charge it had taken on fixing Trent 1000 problems to 790 million pounds from 554 million pounds at the half year. Warren East, the Chief Executive said that the company achieved solid progress despite of all the challenges it faced on Trent 1000 in-service issues.

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