Pratt & Whitney has closed on its $1.5 billion buyout of Rolls-Royce’s shares in the International Aero Engines (IAE) joint venture that produces V2500 engines for Airbus A320s. The change in IAE’s makeup was announced last year (ATW Daily News, Oct. 14, 2011). Japanese Aero Engines and MTU Aero Engines will remain part of the JV, and Rolls will continue as a key supplier, but Pratt’s buyout will give it the predominance of control over IAE by mid-2013. The United ...

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