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US cancels £60bn Rolls engine deal

By Daily Mail Reporter
Updated: 05:10 EDT, 27 April 2011

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America's department of defence has scrapped a contract with Rolls-Royce Group and General Electric to develop an alternative engine for its F-35 Joint Strike Fighter.

The engine was cancelled after US lawmakers failed to find room for it in the latest US budget round.

Rolls-Royce said it was 'disappointed' by the decision to scrap the project, which it said could be worth as much as £60bn over time.

The announcement had been widely expected for several days so shares in Rolls-Royce ended 6.5p higher at 637.5p.

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