Rolls-Royce Holdings Plc. (RYCEF.PK,RR.L,RYCEY.PK) was awarded a new, two-year contract to provide aftermarket engine support for the US Marine Corps and Air Force V-22 fleets, providing over 30 percent reduction in support costs.
The contract, through the company's innovative MissionCare model, is worth up to $287 million and would comprise all V-22 aircraft across the Marine and Air Force fleets. Rolls-Royce is the sole engine provider for V-22 aircraft and has delivered 750 AE 1107C engines to the program.
The reduced maintenance costs result from a significant improvement in engine time on wing since 2009 when the original MissionCare contract was signed. Rolls-Royce has invested $90 million in capability and reliability improvements for the AE 1107C engine.
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