Rolls-Royce share of Turkish Airlines V2500 order worth up to $170 million

Rolls-Royce, the global power systems company, has won a share of an order from Turkish Airlines (THY), the national carrier of Turkey, for V2500 engines to power 20 firm and 10 option Airbus A320 family aircraft. The order is worth up to $170 million to Rolls-Royce.

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 aircraft, scheduled for delivery between 2011 and 2013, will be used to facilitate growth in the THY network. The airline currently operates a fleet of 45 IAE-powered aircraft. The 20 firm aircraft comprise six A319s and 14 A321s.

The 22,000 – 33,000lb thrust V2500 powers the Airbus A319, A320 and A321 family of aircraft as well as the Airbus Corporate Jetliner. Nearly 6,000 V2500 engines are in service or on firm order worldwide.

1. Rolls-Royce, a world-leading provider of power systems and services for use on land, at sea and in the air, has established a strong position in global markets - civil aerospace, defence aerospace, marine and energy.
2. In 2008, Rolls-Royce and its partners invested £885 million on research and development, two thirds of which had the objective of further improving the environmental aspects of its products, in particular the reduction of emissions.
3. Annual underlying revenues were £9.1 billion in 2008, of which 52 per cent came from services revenues. The firm and announced order book stood at £57.5 billion at 30 June 2009, providing visibility of future levels of activity.