Rolls-Royce, the global power systems company, has secured contract extensions with the Royal Air Force worth almost 100m pounds.
The deal will see the company provide ongoing support for engines on the UK's C-130 Hercules transport and VC10 tanker fleets.
The extension will mean the Hercules Integrated Operational Support (HIOS) contract, which covers the servicing of the C-130 fleet and is delivered jointly by Rolls-Royce, Marshall Aerospace and Lockheed Martin, will continue until 2015.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
It will also provide technical support for Conway engines, which will power the VC10 tanker until it finishes
service in 2013.
During the UK's Operation Ellamy in Libya last year the company provided around-the-clock support for Conway engines that powered the VC10 tanker aircraft.
Paul Craig, Rolls-Royce, Executive Vice President Services - Defence, said: "This contract amendment is testimony to the standard of service delivered to-date and reflects the value we offer to our customer".
"It is particularly pleasing that we have continued to deliver high levels of aircraft availability at a time when both the C-130 and VC10 have recently been involved in high tempo operations," he added.
-
Divorce financial settlement fights surge – why it pays to agree terms earlyLawyers expect more court battles as tax rises and sharp falls in asset values make divorcing financially more difficult.
-
Emotional investing: what is it and how you can avoid itAre you an emotional investor? Your feelings could be damaging your long-term investments, but here's how to stay rational when the markets are turbulent.
