Shares in Rolls Royce were up on the FTSE 100 in morning trading after the engine manufacturer said it had been awarded a $2.2 billion TotalCare deal from Emirates Airline.
Under the deal Rolls Royce will be responsible for servicing Trent engines on 70 Airbus A350XWB aircraft.
Mark King, President of Civil Aerospace at Rolls-Royce, said, "We are delighted to sign this contract with Emirates, a valued customer with three Trent engine family members already in service. With this contract all of Emirates' Rolls-Royce powered fleet are, or will be, supported by TotalCare packages that add significant value and allow customers to optimise their operations."
Tim Clark, President of Emirates Airline, commented, "Emirates' 70 A350XWB aircraft on order will play an important role in our growth when they come online in the next few years. This TotalCare contract with Rolls-Royce is an important step in ensuring our A350XWB engine life cycle costs are managed effectively and maintained to the highest standards. Already current users of TotalCare, we look forward to maintaining this relationship with Rolls-Royce to drive additional operational improvements."
By 09:45 shares in Rolls Royce were up 0.38 per cent on the FTSE 100 to 660.00 pence per share.