Abstract: An automatic takeoff thrust management system can be used in an aircraft with at least two engines. The management system comprises an aircraft status sensor or set of sensors capable of detecting establishment of takeoff climb conditions, and engine failure detectors respectively coupled to the at least two engines and capable of detecting engine failure. The management system further comprises thrust control modules respectively coupled to the at least two engines and capable of controlling the thrust of the engines, and a controller coupled to the aircraft status sensors, the engine failure detectors, and the thrust control modules. The controller reduces thrust by a selected amount upon detecting establishment of takeoff climb conditions and, if engine failure is detected, restoring thrust to an initial or a higher schedule.