AERO-engine maker Rolls-Royce, which last year axed 5,000 jobs worldwide, has secured a deal worth more than £1.4bn.

Rolls-Royce has signed an agreement with the Gulfstream Aerospace Corporation to supply up to 600 upgraded BR710 engines - made near Berlin - to power the twin-engine Gulfstream V-SP business jet aircraft.

The deal is worth up to £1.41bn over ten years.

Ian Aitken, president of corporate aircraft at Rolls-Royce, said: "We are confident Gulfstream V-SP operators will appreciate the proven capabilities of the BR710 and the performance and efficiency of the aircraft."

Bill Boisture, president and chief operating officer of Gulfstream, said: "Our long-term partnership with Rolls-Royce has evolved into a strategic alliance where both parties work toward a final product that delivers safety, performance, reliability and comfort."

Rolls-Royce slashed 5,000 jobs after the September 11 terror attacks knocked out demand, 3,800 of which were in the UK. Included in the job losses was the closure of its Fan Systems factory in the Heaton area of Newcastle with the loss of 55 jobs.

Work was transferred from the facility to a factory in Ansty, near Coventry.

Rolls-Royce yesterday said civil aerospace underlying profits before interest were expected to halve this year, before starting to grow again next year.

Last year, however, the corporate aircraft engine market was worth £1.76bn, of which Rolls-Royce had a market share of about 32 per cent.