Published 3 years ago

Rolls-Royce revises down 2021 engine flying forecasts

Summary by Reuters

LONDON - Britain's Rolls-Royce revised down its forecasts for 2021 on Tuesday saying that it now expected aeroplane flying hours to be about 55% of 2019 levels this year, compared to a previous base case forecast of 70% given last October. The company said that less flying would mean it loses more cash, and it was now expecting free cash outflow of 2 billion pounds ($2.7 billion) for

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BBC News

Rolls-Royce facing £2bn cash reserve hit as flight numbers fall

The company is set to burn through more cash than expected this year as Covid hits the travel sector.

3 years ago·United Kingdom

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News18 India

Jet Engine Maker Rolls-Royce Cuts 2021 Forecasts On Travel Slump

LONDON: Britain’s Rolls-Royce downgraded expectations for how much its engines would fly this year and warned of a big cash outflow, blaming extra travel restrictions aimed at stopping the spread of new COVID-19 variants.

3 years ago·India

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The Guardian

Rolls-Royce says new Covid-19 strains will slash travel this year

Engine-maker’s shares tumble as it says it expects to spend £2bn in cashCoronavirus – latest updatesSee all our coronavirus coverageRolls-Royce has slashed its forecast of flying hours and expects to burn through £2bn in cash this year, as uncertainty about the new coronavirus variants and increased travel restrictions put the brakes on a recovery in air travel.The engine-maker said it expects engine flying hours to be about 55% this year compar…

3 years ago·London, United Kingdom

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Reuters

Rolls-Royce revises down 2021 engine flying forecasts

3 years ago·United Kingdom

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Irish Independent

Rolls-Royce warns mutated Covid-19 strains add pressure to business

Engine-maker Rolls-Royce has warned that the more contagious variants of the Covid-19 virus are creating additional uncertainty for the business as air travel remains heavily reduced.

3 years ago·Ireland

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RTÉ

Rolls-Royce revises down 2021 engine flying forecasts

Rolls-Royce has revised down its forecasts for 2021, saying that it now expected aeroplane flying hours to be about 55% of 2019 levels this year, compared to a previous base case forecast of 70% given last October.

3 years ago·Ireland

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