In a statement Rolls-Royce said, it has agreed to sell its Spanish unit ITP Aero for $2.0 billion (1.7 billion euros) to a consortium led by Bain Capital Private. The development sees the British engineering company closing in on its… Read More ›
Rolls Royce
Rolls-Royce appoints Anita Frew as its chairwoman
In a statement Rolls-Royce said, Anita Frew will succeed Ian Davis as the company’s chairwoman on October 1 2021, making her the first woman to chair the British aero-engine company. Davis will be retiring from the company as its chairman… Read More ›
Rolls Royce pauses Bergen Engines sale to Russia’s TMH Group controlled company
In a statement British engine maker Rolls-Royce said, it had paused the planned sale of its Bergen Engines to a company controlled by Russia’s TMH Group after an intervention by Norway. Norway’s NSM security agency is assessing the $178 million… Read More ›
Rolls Royce roiled by coronavirus, as pandemic disrupts engine flying hours
With the coronavirus-induced COVID-19 pandemic bring the global travel to a stop, British engineering company Rolls-Royce downgraded its yearly cash outflow forecast underscoring the challenges it faces in its financial outlook even as the air travel continues to be disrupted… Read More ›
UK government helps Rolls Royce rebuild balance sheet
In a statement Rolls-Royce said, it plans on raising $2.6 billion (2 billion pounds) from shareholders, 1 billion pounds from the bond market and secure loans to rebuild its balance sheet. The coronavirus pandemic has ravaged Rolls Royce’s finances after… Read More ›
Rolls Royce ditches 2020 free cash flow targets due to Wuhan Coronavirus
According to a report from the Financial Times, Rolls-Royce is slated to abandon its targets on deliveries, profits, cash and dividend, as airlines around the world ground their planes in the wake of the Wuhan Coronavirus outbreak. Rolls-Royce is also… Read More ›
China-owned Austrian airplane parts maker FACC ramps up production ahead of Brexit
Given the intertwined nature of the airplane industry, FACC sees no danger to its business due to the U.S.-China trade war. Brexit though is another story, since it could rip apart existing supply chains. China-owned Austrian aeroplane parts maker FACC… Read More ›
Rolls Royce continuing with Brexit contingency plans: CEO Warren East
Rolls Royce is focusing its efforts to continue doing business irrespective of the manner Britain departs the EU. On Friday, Britain’s airplane engine maker Rolls-Royce stated, it was continuing with its contingency plans vis-a-vis Brexit. The development comes midst growing… Read More ›
Compression issues in Rolls Royce engine lead to Japanese Airline ANA Holdings canceling 113 domestic flights
Rolls Royce has stated progress on fixing compression issues with its Trent 1000 engines C and Trent 1000 engines B have been slow due to a global shortage of replacement parts. On Wednesday, Japanese airline ANA Holdings Inc disclosed it… Read More ›
Rolls Royce to further streamline business, save $536 million by 2020
Rolls Royce’s aeronautical engine business, its biggest cash cow, is facing severe issues resulting in the grounding of planes. On Thursday, British engineering firm Rolls-Royce disclosed it would be cutting 4,600 jobs primarily from the UK as part of a… Read More ›
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