When Airbus launched its A330 twin-jet in June 1987, its only engine options included the CF6-80C2 and the PW4000. Rolls-Royce was studying whether to launch a RB211-700, development of the RB211 for the A330, the long-range B767 and MD-11, derived from the 747-400's -524D4D, with growth potential to. By June 1988, Rolls-Royce was investing over $540 million to develop the uprated RB-211-524L with a new fan up from for the -524G/H and a fourth LP turbine stage up from three, targeting. In April 1989, Cathay Pacific ordered ten A330s, powered by RB211-524L engines and with room to grow to, a first for Rolls-Royce on an Airbus aircraft. In June 1989, TWA confirmed an order for twenty A330s and selected the RB211-524L Trent engine for $620 million, rated for. By February 1992, design work was completed for the fan, Trent 700 and the first test was scheduled for July. By then, the earlier fan, Trent 600 for the MD-11 was abandoned due to lack of customers. By September, the first engine was running and was to be joined by five others by the end of the year. Certification was applied for on 30 June 1991 and was granted on 24 January 1994. The first Trent 700-powered A330 flew in August 1994. Cathay Pacific introduced it in March 1995. 90-minutes ETOPS approval was achieved in March 1995, and this was extended to 120 minutes in December 1995 and 180 minutes in May 1996. The Trent 700 was the third engine to market on the A330, after GE and PW.
By July 1999, the Trent had secured a near 40% share of engine orders for the A330. In 2009 Rolls-Royce introduced an upgraded version of the engine dubbed the Trent 700EP which incorporated a package of improvements derived from later members of the Trent engine family. These included elliptical leading edges and optimised fan and high-pressure turbine tip clearances. Together the improvements provided a 1.2% improvement to the Trent 700's specific fuel consumption. Some of the improvements were also made available as a retro-fit kit to existing airlines. Further upgrades were announced in 2013 as part of the T700EP2 package. The upgraded engine will be available in 2015 and is intended for higher gross weight A330s. This upgrade package will improve fuel efficiency by about 1% and is likely to be the last upgrade of Trent 700. It may also be available as a retrofit package in the future. Rolls-Royce claims that the Trent 700 has the lowest life cycle fuel burn, and is the quietest and cleanest engine available on the A330. Cathay Pacific is the largest operator, with 31 Trent 700-powered A330s. Rolls received orders for 140 of the type during the Paris Air Show in June 2007. By July 2018, it has flown 50 million hours. Rolls-Royce claims a 60% market share. By June 2019, an Aeroflot Trent 700 which entered service in 2008 had completed over 50,000 hours without requiring an overhaul – a record for a widebody engine.