Rolls-Royce urges UK to commit to subsidies for about $4 billion engine project, FT reports

Rolls-Royce pushes UK to back $4B engine plan with subsidies

Funding Request and Project Details

Feb 23 (Reuters) - Rolls-Royce is urging the UK government to commit to taxpayer support for the 3 billion pounds ($4.05 billion)development of a new aircraft engine project, the Financial Times reported on Monday, citing people familiar with the matter.

Initial £100–£200 Million Sought

The company is asking between 100 million-200 million pounds in the first instance to help fund the development and testing of a demonstrator of the UltraFan 30 engine, the report said.

UltraFan 30 Demonstrator

Reuters could not immediately verify the report.

Report Verification Status

($1 = 0.7400 pounds)

Exchange Rate and Credits

(Reporting by Abu Sultan in Bengaluru; Editing by Subhranshu Sahu)