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(Alliance News) - Rolls-Royce Holdings PLC on Tuesday announced its "biggest ever contract" for Trent XWB-97 engines from Air India, which is part of Tata Group.
The deal came as the Indian airline signed deals for a record 470 jets from Airbus SE and Boeing Co, and an engine order with General Electric Co's aerospace arm.
The bumper agreement for Derby-based Rolls-Royce includes orders for 68 Trent XWB-97 engines, used in the Airbus A350-1000, plus options for 20 more, and 12 Trent XWB-84 engines, used in the Airbus A350-900.
Financial details were not disclosed, but the agreement makes Air India the largest operator of the Trent XWB-97 in the world.
Chief Executive Tufan Erginbilgic said: "With a dynamic and growing aviation industry, India is a strategically important market for us."
Air India also signed an order with GE Aerospace for 40 GEnx-1B and 20 GE9X engines, plus a multi-year engine services agreement. The deal was inked alongside contracts for 20 Boeing 787 and 10 Boeing 777X aircraft.
Air India also plans to invest in 190 Boeing 737 Max aircraft, with the agreement including options for 50 additional 737 MAXs and 20 787-9s aircraft.
Seattle-based Boeing said when finalised, this will be its largest order in South Asia.
Air India also signed a deal with Airbus for 210 A320neo narrowbody planes and 40 A350 widebody aircraft, which Air India will use to fly ultra-long routes.
India has the third-biggest airline market in the world and is ranked as the fifth-largest economy globally.
Industry forecasts show that air passenger traffic in India is expected to grow at more than 6% per year, and the industry will require more than 400 medium and large aircraft to support demand.
Shares in Rolls-Royce closed down 1.0% at 108.36 pence each in London Tuesday.
Boeing was 0.8% higher at USD217.28 in New York, and General Electric rose 0.4% to USD82.98.
By Jeremy Cutler, Alliance News reporter.
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