Rolls-Royce (LON: RR.) delays UltraFan engine development

2 min read | January 06, 2021 10:27 PM AEDT | By Team Kalkine Media

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Rolls-Royce Holdings Plc (LON: RR.) has confirmed that it will be putting UltraFan engine development projects on ice after the engineers complete testing in 2022.

Reportedly, Rolls-Royce has invested about £500 million so far into the UltraFan engine’s development.

It was primarily due to the pandemic that major aircraft manufacturers curtailed their production rates. The situation hasn’t yet improved much with uncertainty still persisting with doubt on nature and pace of recovery after the pandemic subsides.

Earlier, the company had said it was aiming for UltraFan to be in service after 2025, but now it has been postponed subject to market requirements.

Rolls-Royce has reiterated that eventual timing of UltraFan’s entry into service is reliant on aircraft manufacturers’ needs.

Parts of UltraFan have already been built and tested at different sites of the company, and the fully integrated UltraFan would undergo ground testing at its Derby site.

Rolls-Royce in its latest trading updates released in December stated that recovery is still fluid, with a few uncertainties still to overcome in 2021, though Defence business stayed resilient and the visibility for 2022 is expected to be better.

On 6 January 2021, the stocks of the Marks and Spencer Group Plc (LON: RR.) traded higher by 0.51% from its previous closing, hovering at around GBX 108.30 at 10:22 AM GMT+1.

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