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Rolls-Royce shares dive after Emirates engine comment

November 22, 2016 Headline News No Comments Email Email

egtmedia59Rolls-Royce shares fell sharply on Friday after Emirates complained of some technical issues with Rolls-Royce engines.

The International Business Times reported that shares of Rolls-Royce closed 6.58% lower on Friday at GBP 6.53 “marking its lowest price in nearly five months”.

Emirates ordered 217 Rolls-Royce Trent 900 engines in April 2015 to power its latest batch of 50 A380s.

Last Friday, however, Emirates president Tim Clark said, “We have a new engine coming on and there are some issues with that at the moment… We want the engines as promised in the contract.”

Clark added that he hoped these issues would be resolved soon and added that Emirates could still fly its first A380 with Trent engines on 2 December 2016, as scheduled.

Commenting on the issue, a Rolls-Royce spokesman said, “We are working with Emirates and Airbus to meet the planned entry into service of the Trent powered A380 within the Emirates fleet.”

Edited by William Sykes

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