Rolls-Royce withdraws from race to power Boeing's mid-market plane

Rolls-Royce withdraws from race to power Boeing's mid-market plane $BA

LONDON - Rolls-Royce said it had withdrawn from a competition to power Boeing’s planned mid-market aircraft because it could not meet the timetable, as costs related to its Trent 1000 engine led to a full-year operating loss of 1.16 billion pounds .

Rolls on Thursday increased the charge it had taken on fixing Trent 1000 problems to 790 million pounds from 554 million pounds at the half year. Boeing has proposed launching a new mid-sized jetliner to fill a gap between the narrow and wide-body aircraft.

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