Rolls-Royce wins two new Trent 700 contracts

20th Jul 2015 08:05

(ShareCast News) - Aerospace and defence company Rolls-Royce has announced two new deals worth $2.23bn.The company has been selected by SAUDIA, the national carrier of Saudi Arabia to provide long-term TotalCare engine service support worth $1.3bn for Airbus A330 Regional aircraft.It's also been selected by International AirFinance Corporation to provide Trent 700 engines worth $930m for 20 Airbus A330 Regional aircraft.Eric Schulz, President of Rolls-Royce's Civil Large Engines, said: "We welcome our customer's continued confidence in the Trent 700 as the best solution for fuel burn, emissions and noise performance as well as delivering unrivalled reliability for Middle East operations."The Trent 700 is the market leader on the A330 with more than 60% of new orders over the last three years. It now accounts for 90% of A330 freighters in service and on order."Rolls Royce shares are having a better day but despite the large contract wins, a large gap will still need to be filled to 852p if we are to negate the recent stock turmoil post the recent profit warning," said Brenda Kelly, head analyst at London Capital Group.At 10:13, shares were up 0.6% at 784.75p.