Pratt & Whitney, Rolls-Royce abandon aircraft engine JV

|By:, SA News Editor

Pratt & Whiney (UTX +0.8%) and Rolls-Royce (RYCEY.PK +0.3%) unveiled plans for the joint venture two years ago, but cite the regulatory environment as reason for abandoning it.

"Pratt & Whitney remains fully committed to this important market segment and will continue independently to invest in and develop applications of its geared turbofan engine to power the next generation of mid-sized aircraft."

The move comes at a particularly competitive time for the industry and could be seen as a win for GE which is looking to gain market share.