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MTU Aero Engines Aims To Increase Stake In IAE Consortium

FRANKFURT -(Dow Jones)- German aircraft engine maker MTU Aero Engines Holding AG (MTX.XE) said Thursday it intends to increase its share in the International Aero Engines consortium, a move expected to follow an agreement between Pratt & Whitney and Rolls-Royce Holdings PLC (RR.LN) on the restructuring of the consortium, which markets the V2500 engines for Airbus A320 aircraft. MAIN FACTS: -Neither financial details nor the exact size of the stake increase were disclosed. -Rolls-Royce will sell its stake in International Aero Engines, or IAE, to Pratt & Whitney, which in turn will pass on parts of this share to MTU Aero Engines. -MTU's share in the V2500 program will rise above the 11% it currently holds. -MTU's revenue contribution from this program will increase substantially, and the deal is expected to lead to a positive earnings contribution for MTU. -Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500

Stock News for Ing As Pac Hi Div Eq (IAE)
DateTimeHeadline
10/13/201102:46:06MTU Aero Engines Aims To Increase Stake In IAE Consortium
05/27/201004:11:13Airbus: South African Airways Buys 5 More A320 Aircraft
01/27/201018:09:45Qantas Jetstar To Use V2500 Engine For New A320 Planes
06/15/200909:06:08Rolls-Royce Wins $230 Million Share Of Air China Order

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