A consortium which includes Derby- based Rolls-Royce has landed a potential $ 400 million ( £ 227.2 million) aeroengine contract.

Aircraft leasing group CIT has placed a firm order for 12 V2500 engines from International Aero Engines plus 12 options to power up to 24 Airbus A320 airliners.

IAE also includes US firm Pratt & Whitney, the Japanese Aero Engines Consortium and MTU Aero Engines.

IAE president Mark King said: "CIT's expertise lies in its ability to accurately forecast demand and provide leading products to meet the needs of its customers.

"This selection should be seen as an endorsement of the market-leading qualities of the V2500," Mr King added.