Rolls sells helicopter engine stake

France’s Turbomeca, part of the Safran group, will now assume full responsibility for managing the design, production and support of the RTM322 engine, which powers the Boeing Apache, AgustaWestland EH101 Merlin and NH90 helicopters.

Rolls, the world’s second-largest maker of aeroplane engines behind US group General Electric, said the RRTM Adour engine programme, which powers the BAE Systems-made Hawk and Anglo-French Jaguar jets, would be unaffected by the sale, as are the other helicopter engine programmes in the Rolls-Royce portfolio.

Rolls is on a cost-cutting drive after its CEO said in July it lags its major competitors in terms of managing costs and needs to narrow the gap.

Rolls shares in London, which have risen 29 per cent this year, were 1.4 per cent up during trading, valuing the group at around £21bn.

Safran shares in Paris were 1.4 per cent up.