The British company Rolls-Royce has withdrawn from the race to supply engines to Boeing's new commercial aircraft.
Rolls-Royce had proposed the UltraFan engine to power Boeing's new aircraft, but in a statement issued Thursday, the engine manufacturer withdrew its offer, stating that it "was unable to meet the proposed schedule."
Chris Cholerton, President of Civil Aerospace at Rolls-Royce, added that he felt this decision was the "right decision" for Rolls-Royce and the "best approach for Boeing".
Boeing should now choose between offers from the United Technologies Pratt & Whitney unit and CFM International, a joint venture of General Electric with the French Safran.
Rolls-Royce is already under pressure to implement the company's current engine programs, including Trent XWB, Trent 7000 and Trent 1000-TEN.
This decision would help "minimize" the development of its next-generation UltraFan engine, which should allow airlines to increase efficiency by up to 25 percent.
The announcement was made while Rolls-Royce announced an increase in its core sales in 2018, to £ 14.36 billion ($ 19.1 billion), while recording a pre-tax loss of $ 2.9 billion £ for the year.
Rolls was forced to increase the amount of its compensation program for persistent problems associated with the Trent 1000 engine used on the Boeing 787 Dreamliner. The delays cost him £ 790 million in 2018 and the British engineer estimates an additional cost of £ 450 million in 2019. The company has also had to set aside £ 186 million following the recent decision to Airbus to stop manufacturing its A380.
Shares fell 3.5% after publication.
What is Boeing's "797" concept?
Boeing is said to have developed two new concepts that would become the Boeing 797.
The first version would be the NMA-6X, a medium-haul aircraft of 228 passengers with a range of 5,000 nautical miles.
A second version, the NMA-7X, would be larger with 267 seats, but a range of 4,200 nautical miles.
The single-aisle aircraft would be a direct competitor to the Airbus A320 series and would likely replace the older Boeing 767 and 757 aircraft.
No new confirmed Boeing aircraft is expected to take off until at least 20:25.