In an unprecedented move designed to outflank General Electric and its CFM partner Snecma, Pratt & Whitney and Rolls-Royce have announced plans to form a new engine joint venture to power future mid-size aircraft based initially on the geared turbofan (GTF) configuration. The surprising about-turn for Rolls-Royce includes a major restructuring of International Aero Engines (IAE) under which Rolls will sell its equity and program shares in IAE for $1.5 billion. The restructured IAE ...

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