A Rolls-Royce logo is seen at the company's aerospace engineering and development site in Bristol, Britain, December 17, 2015. REUTERS/Toby Melvillesaid on Monday it had been selected to provide engines for the United States Air Force B-52 Stratofortress bombers, in a contract which could be worth up to $2.6 billion to the British engineering firm.
The F-130 engines, which will be made at Rolls-Royce's Indianapolis, Indiana facility, were chosen as replacement engines for the bombers, for an initial $500 million six-year deal, which could rise to $2.6 billion longer-term., to win the contract, jumped 5% to 139 pence, their highest level since June 2020.
Jefferies analyst Andy Douglas called it a "good" win and said while it wouldn't change numbers straightaway "it provides additional comfort to longer-term consensus forecasts and is a positive for sentiment." The Pratt engines have powered the famous B-52 aircraft, which can carry nuclear weapons, since the 1960s but will be retired by 2030. The aircraft's manufacturer, BoeingRolls-Royce said its F-130 engine will provide the U.S. with "vastly greater fuel efficiency" while the U.S. said in its statement that it would also increase range and cut maintenance costs.
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