Rolls-Royce wins $175m share of Air Lease Corporation order

Rolls-Royce, the global power systems company, has won a $175m share of an order from new leasing company Air Lease Corporation (ALC) for V2500 engines to power 30 Airbus A320 aircraft.

Deliveries of the aircraft, ordered at the 2010 Farnborough Airshow, are scheduled to start in 2011. ALC was founded earlier this year, raising capital to acquire a new portfolio of aircraft and aims to have 100 aircraft by spring 2011.

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 22,000 – 33,000lb thrust V2500 powers the Airbus A319, A320 and A321 family of aircraft as well as the A319 Corporate Jet. More than 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. As a result of this strategy, Rolls-Royce today has a broad customer base comprising more than 600 airlines, 4,000 corporate and utility aircraft and helicopter operators, 160 armed forces, more than 2,000 marine customers, including 70 navies, and energy customers in nearly 120 countries, with an installed base of 54,000 gas turbines.
3. Rolls-Royce employs over 39,000 skilled people in offices, manufacturing and service facilities in 50 countries. The Group has a strong commitment to apprentice and graduate recruitment, and to further developing employee skills.
4. In 2009, Rolls-Royce invested £864 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.
5. Annual underlying revenues were £10.1 billion in 2009, of which about half came from services revenues. The firm and announced order book stood at £58.3 billion at 31 December 2009, providing visibility of future levels of activity.