Word: tristar
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Transatlantic Layoffs. By week's end the Rolls crash had cost the jobs of almost 10,000 workers in two countries, including 6,500 laid off by Lockheed in Burbank and Palmdale, Calif. There, Lockheed had been building the TriStar superjet, for which Rolls was supposed to supply the engines. The bitter joke on both sides of the Atlantic was that the Rolls crash has made the 256-passenger TriStar "the world's largest glider...
...washed out, it is conceivable-though highly unlikely-that Lockheed would have to cancel the TriStar and follow Rolls into bankruptcy; in that case, the Pentagon would doubtless find some way to keep Lockheed producing C-5A cargo planes and Poseidon missiles. The issues are serious enough to have prompted at least one transatlantic telephone conversation between President Nixon and British Prime Minister Edward Heath...
...airbus, a 256-pas-senger trijet that is supposed to start flying for TWA and Eastern late this fall. Britons had hailed the contract award as a triumph of export salesmanship by Rolls, but it proved instead to be ruinous. Rolls agreed to deliver 540 engines for the "TriStar" at a fixed price of $156 million; by last November it had concluded that the cost of building them would be more than twice that. It asked the British government for help and got some loans, but not enough. Last week Rolls declared itself virtually broke and estimated that losses...
...steeply rising price of staying in the competition was underscored by a British government rescue operation to save Rolls-Royce, the company famed for its costly cars ($22,000 and up in the U.S.) and superb aircraft engines. Rolls-Royce is building the engines for Lockheed's TriStar and has already received $113 million in British government aid toward the power plant. That amount did not match the engineering costs, which are running twice as high as estimates made two years ago. Amid gasps of shock in the House of Commons last week, the Tory government announced that...
Beware of the Birds. Rolls-Royce's troubles are those of a cash-short player trying to keep up with the international competition. Its financial troubles have been compounded by technological problems encountered in developing the TriStar's engine. Rolls-Royce's pioneering use of "Hyfil"carbon fibers laminated with resinfor fan blades produced an engine that was lighter and more economical on fuel. But the Hyfil blades were vulnerable to damage by birds drawn into an engine during takeoff or flight. A 4-lb. bird makes an impact equivalent to two tons...