This paper presents a formulation suitable for the flutter analysis of rotating bladed assemblies. The blades are modelled using the finite element method. The aeroelastic displacements, expressed in terms of travelling wave co-ordinates, are written as a linear combination of a number of undamped modes leading to a complex eigenvalues eigenvectors problem. The associated unsteady aerodynamic model is either two or three dimensional, leading for both cases to a consistent and flexible aeroelastic analysis method. Three numerical applications are presented which illustrate the theory and emphasize the possible effects of blade cross-section (chord) deformation on aeroelastic damping.