Rolls-Royce signs 'multi-million' engine deal

Rolls-Royce has moved forward with a deal to power a new fleet of Airbus long-haul jets for Philippine Airlines.

The FTSE-100 firm will provide 18 engines for nine new Airbus A350-1000 aircraft in a deal worth "hundreds of millions of pounds".

The agreement, once finalised, also includes a maintenance package, meaning Rolls-Royce will continue servicing and monitoring the engines throughout their operational life, officials said.

The government welcomed the deal, saying it would bring "good quality jobs" to the company's Derby base.

The order was first announced as a memorandum of understanding at the Farnborough International Airshow in July.

At the time, Rob Watson, president of civil airspace at Rolls-Royce, said the company was "proud to continue strengthening our long-standing relationship with Philippine Airlines".

While the deal is described as being worth "hundreds of millions", the precise value has not been confirmed.

Airbus designs and manufactures wings for all its commercial aircraft at its Broughton site in North Wales.