RollsRoyce Nears UK Subsidy Deal for New Engine
RollsRoyce is reportedly close to securing up to two hundred million pounds in British government subsidies to fund a new engine for short-haul aircraft. The funding would support testing for the UltraFan thirty engine as the company seeks re-entry into the narrowbody market.
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ROLLS-ROYCE HOLDINGS PLC is nearing a subsidy deal worth up to £200 million ($267.9 million) from the United Kingdom government to develop a new short-haul aircraft engine. An official announcement could arrive as early as next week, according to media reports from Friday morning. The funding positions the aerospace manufacturer to re-enter the lucrative narrowbody market after a 15-year absence.
