Deals worth $1 billion give Rolls-Royce shot in the arm

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Parts of a Rolls-Royce engine on display. Photo - AP

Rolls-Royce, the world’s leading provider of power systems and services, has secured orders worth more than $1bn during the Dubai Air Show last week, demonstrating the strength of its portfolio of advanced technology and access to growing global aviation market. According to the company sources, the British engine maker is eyeing Middle East as a major hub of its future investments and expanding its presence in the region.

“We are always looking for opportunities and partners. And we are clear about our priorities, particularly in the UAE. We have been here from a long time and we are going to be here for a long time. We are very committed to the Middle East as we have very important customers and partners here, said Rob Watson, Regional Director-Middle East. He further added that the company does have some great future plans for the region.

The Derby-based engine maker has suffered during the last few years due to global financial crisis and is finding it hard to secure financing.

“There is a strong position for growth in the Middle East. Ours is such a long-term market that, although we pay close attention to some of the economic and political turbulence, we take a long term view. So I am very bullish about the growth prospects in the Middle East. Our performance in the last five years underlines why it’s such an important market” Rolls Royce regional chief explained.

Rolls Royces order book value has shot up from 16 billion to 60 billion during the last ten years. Half of these orders are from customers from Asia and Middle East. Trent XWB which will power Airbus A350 XWB is the latest and the fastest selling engine of the company and has 30% of its fleet being sold in the Middle East.

The orders finalised by Rolls Royce at the Dubai Air show are humongous which include an approximately $500 million deal with Saudi Arabian Airlines for engines (Trent 700) and TotalCare support for up to eight Airbus A330 aircraft; a deal worth $280 million with Garuda Indonesian Airlines for engines (Trent 700) for four Airbus A330s; a $75 million deal with Thai Airlines for engines (V2500) to power five purchased and six leased Airbus A320 series planes; and an Oman Air order for Trent 1000 engines to power six Boeing 787 Dreamliner aircraft, for an undisclosed value. It also hopes to win the engine order from Qatar Airways for the five Airbus A380s.

On lines of its strong commitment to UAE in education and training sector, Rolls-Royce signed a long term leadership training agreement with The Emirates Group to provide an innovative leadership and business management programme for talented UAE National managers. Rolls-Royce also supported Futures Day, which exposes young people to the diverse career opportunities available across the aerospace industry.

Sources Rolls Royce and Gulf News

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