Rolls-Royce share price: New Taiwan carrier picks 17 Trent XWB-powered aircraft

Deal announced at Farnborough Airshow

Rolls-Royce share price: New Taiwan carrier picks 17 Trent XWB-powered aircraft

Taiwan’s new carrier STARLUX Airlines has chosen 17 Airbus A350 aircraft, powered by Rolls-Royce Holdings’ (LON:RR) Trent XWB engine, the FTSE 100 company has said. The decision was announced at the Farnborough Airshow where the British engine maker unveiled a concept electric vertical take-off and landing, which could be adapted for personal transport, public transport, logistics and military applications.

Rolls-Royce’s share price has slipped marginally into the red in today’s session, having given up 0.26 percent to 981.20p as of 09:51 BST. The stock is marginally underperforming the broader UK market, with the benchmark FTSE 100 index currently standing at 7,599.96 points, flat in percentage terms.

Airlines pick Trent-powered aircraft

Rolls-Royce announced in a statement yesterday that  STARLUX Airlines of Taiwan had decided to select 17 Airbus A350 aircraft, which are powered by the Trent XWB. The decision, covering 12 A350-1000s and five A350-900s, was announced at the Farnborough Airshow.

“It is a real pleasure to welcome STARLUX Airlines to our growing family of engine operators,” Dominic Horwood, Rolls-Royce, Chief Customer Officer – Civil Aerospace, commented in the statement. “They are an airline with clear ambition and we look forward to a smooth entry into service.” STARLUX Airlines is a new, full-service airline based in Taipei, which plans to develop a network spanning destinations across Asia and long-haul services to North America, with regional operations to be launched in early 2020, followed by long-haul services early in 2022.

The British group separately announced that Sichuan Airlines had decided to select 10 Trent XWB-powered Airbus A350 aircraft.

Analysts on blue-chip engine maker

UBS reaffirmed Rolls-Royce as a ‘buy’ this month, hiking its price target on the shares from 1,090p to 1,130p. According to MarketBeat, the company currently has a consensus ‘hold’ rating and an average price target of 968.25p.

As of 10:43 BST, Tuesday, 17 July, Rolls-Royce Holding PLC share price is 984.00p.

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