PARIS, FRANCE — Rolls-Royce optimistic as wide-body planes find wind beneath their wings the company does not rule out narrow-body partnership.
In an optimistic assertion reflecting the emerging recovery of the aviation industry, Rolls-Royce, the renowned British aero-engine giant, has voiced confidence in the robust revival of demand for large long-haul aircraft, a market central to its operations. This comes in the wake of similar remarks made by Airbus, one of its significant clients.
The company’s buoyancy is attributed to a resurgence in demand, particularly noting China's rebound, which, according to Tufan Erginbilgic, Rolls-Royce's newly appointed CEO, is "far more vigorous than we had foreseen." This is a testament to Erginbilgic's effectual leadership since he assumed charge half a year ago.
In a recent statement, the British firm, known for the production and maintenance of high-capacity engines for widebody aircraft including Airbus A350 jets and Boeing’s 787, revealed that engine flying hours had regained 83 per cent of their pre-pandemic levels.
The global aviation downturn due to the Covid-19 pandemic had significantly impeded Rolls-Royce’s revenue model, heavily reliant on operational engines and aftermarket sales, following the enforced grounding of a large part of the global fleet.
However, the resurgence in the aviation sector has ushered in a global purchasing spree among airlines, thereby bolstering order books at major manufacturers like Boeing and Airbus. While the newfound demand has primarily been for smaller, short-haul, and medium-haul aircraft, the market for wide-body planes is also gaining momentum.
Industry executives, reconvening at the Paris Air Show following a four-year interlude brought on by the pandemic, expressed that demand is surpassing supply amidst ongoing supply chain difficulties.
A case in point is Air India's recent confirmation of a substantial order for 470 aircraft from both Airbus and Boeing. This includes 40 A350 wide-body jets that utilize Rolls-Royce's Trent XWB engines.
Stan Deal, the chief of Boeing's commercial aircraft division, conveyed to the Financial Times the robust nature of current ordering, with many orders slated for delivery stretching well into the 2030s. He mentioned that many airlines are returning to a growth narrative, trying to secure capacity for year-on-year expansion.
Company's new CEO did not rule out future partnerships in the narrow-body market, but had a sufficient runway for growth in its large engine business to live without the medium-haul segment.
Erginbilgic, who is spearheading a major transformation at Rolls-Royce, reassured journalists at the show that progress is on track.
