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01 December 2023

Rolls-Royce, HK Airlines ink deal


Britain's Rolls-Royce has signed a $1.2 billion (Dh4.4bn) deal to supply engines to Hong Kong Airlines' new fleet of Airbus A330 jets, the companies said.

The deal, which also includes a service contract, formed the bulk of $1.9bn worth of agreements signed by British and Chinese firms on the final leg of a Chinese trade delegation tour of Europe.

British Business Secretary Peter Mandelson said: "In this challenging global climate, China represents a great opportunity for UK business.

"By 2010 its market could account for over two trillion dollars of global imports and exports."

Representatives from more than 200 Chinese companies signed a number of high-profile deals on their sweep through Europe, including more than 10 billion dollars of tie-ups with German firms.

The trip has been hailed by Beijing as proof of its non-protectionist stance. The European Union is China's largest trading partner.