Rolls-Royce Shares Tank 10% on Profit Warning
Rolls-Royce earlier issue profit warning due to weak operating conditions.Reuters

Rolls-Royce has received its largest-ever order worth £6.1bn ($9.2bn, €8.5bn) to supply engines for 50 A380 planes for Dubai's Emirates airline.

It is the first time the Gulf carrier has ordered Rolls-Royce engines for its superjumbo fleet. As per the deal, Rolls-Royce will also provide service and maintenance for Emirates aircraft.

Emirates has previously used General Electric and Pratt & Whitney engines on its existing 90-strong fleet of double-decker planes.

Rolls-Royce said the order was the biggest given to a British company outside the defence sector.

Emirates said the deal would boost trade ties between the UK and the United Arab Emirates, and it would have a "significant economic impact".

"Today's announcement is significant not only because it cements the partnership between Emirates and Rolls-Royce, but also because of the significant economic impact that this will have on aviation manufacturing in the UK and Europe," Emirates President Sir Tim Clark said in London.

However, the deal will not create new jobs in the company, which currently employs 24,500 people in the UK.

Final assembly of the engines will take place in Singapore, and the aircraft in question would enter service from 2016.

The deal comes as the British engineering giant suffers from less business, which prompted the firm to issue profit warnings recently. In February, the company warned that profits in 2015 could fall by as much as 13%, following an 8% drop in 2014. The company attributed the weakness to lower oil prices.

In addition, the company is axing 2,600 jobs in its aerospace division in order to improve profitability.

Following the deal news, the company's shares rose 2% in London.