Rolls-Royce has dropped its bid to manufacture the engine for the planned midsize passenger jet from US aircraft maker Boeing. The UK engineering firm said it would be unable to deliver a technically mature engine within the given timeframe. Rolls-Royce, which is owned by British billionaire Richard Branson, had been hoping to build an advanced version of the Rolls Royce Trent XWB turbofan engine, but was forced into bankruptcy in 2013 after being The company's financial troubles largely arose from problems with the Trent 1000 engine, built to power the Boeing Dreamliner, which cost £790m to repair in 2018, along with ceased production of the Airbus A380 jumbo.
Rolls-Royce has dropped its bid to manufacture the engine for the planned midsize passenger jet from US aircraft maker Boeing. The UK engineering firm said it would be unable to deliver a technically mature engine within the given timeframe. Rolls-Royce also announced an after-tax loss of £2.4bn ($3.2bn) in 2018, compared to a £3.4bn net profit in 2017. The company's financial troubles largely arose from problems with the Trent 1000 engine, built to power the Boeing Dreamliner, which cost £790m to repair in 2018, along with ceased production of the Airbus A380 jumbo.