Rolls-Royce has dropped its bid to manufacture the engine for the planned midsize passenger jet from UK aircraft maker Boeing. The US 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.
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.