Engine giants Pratt & Whitney and Rolls-Royce are forming a new joint venture to develop engines for next-generation mid-size aircraft in a deal that restructures their long-standing International Aero Engines partnership. Under the multi-faceted deal, P&W is buying Rolls’ share of the two engine companies’ IAE joint venture company for $1.5 billion, it was announced late Wednesday. IAE produces the V2500 engine for Airbus A320 family aircraft. (ATW Daily News, June ...

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