FIATAVIO has sold its holding in International Aero Engines (IAE) to its four partners. The deal maintains the Italian engine manufacturer's place on the programme, but as a subcontractor rather than as a shareholder.
The Italian company, which is in the throes of merger talks with local rival Alfa Romeo Avio, has completed negotiations with the members of the US-based consortium. The deal was agreed late in 1995, but only ratified by IAE members last month.
Under the new arrangement, Rolls-Royce and Pratt & Whitney will each have a 32.45% holding in IAE. MTU of Germany holds 12.1% and Japan Aero Engines 23%.
Fiat will continue to supply gearboxes for the V2500 series of turbofan engines used on Airbus Industrie narrowbody aircraft and McDonnell Douglas MD-90s.
Source: Flight International
