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Rolls-Royce soar after engine fixes drive profit upgrade

British aero-engineer Rolls-Royce today raised its full-year profit and cash flow outlook after improvements to its widebody jet engines drove strong first-half results, pushing its shares to an all-time high.

Business • 31 Jul

Rolls-Royce said it still expects to make underlying operating profit of between £2.7 billion and £2.9 billion for 2025

Rolls-Royce confident on targets despite tariffs

British engineering company Rolls-Royce said today it expected to be able to offset the impact of global tariffs to keep it on track for 2025 profit targets, following a strong start to the year.

Business • 01 May

Rolls-Royce has seen rising demand for high-margin, personalised car content from wealthy consumers

Rolls-Royce to invest £300m in UK plant

British luxury car maker Rolls-Royce said it will invest £300m to expand its Goodwood plant to focus more on bespoke cars for high-end clients, featuring anything from gold sculptures to mother-of-pearl artwork.

Business • 08 Jan

BA has already cut long-haul flights this year because of delays in the delivery of engines and parts from Rolls-Royce

BA makes additional schedule changes over engine issues

IAG-owned British Airways has had to make additional changes to its schedules over engine issues, it told Reuters today after several media outlets reported that it has cancelled summer flights from London's Heathrow to Abu Dhabi.

Business • 19 Dec 24

Rolls-Royce has been hit by an engine defect on an Airbus A350 plane that led to the cancellation of dozens of Cathay Pacific flights this month.

Rolls-Royce engine defect a new blow for historic firm

After a recent strong recovery, Rolls-Royce is looking to overcome a setback caused by a defect to one of its engines on a plane flown by Hong Kong's Cathay Pacific.

Business • 19 Sep 24

Cathay Pacific Airways has inspected its entire Airbus A350 fleet after the in-flight failure of an engine part and found 15 planes with components that needed replacement

Cathay Pacific inspections find 15 A350s need new parts

Hong Kong's Cathay Pacific Airways said today it had inspected its entire Airbus A350 fleet after the in-flight failure of an engine part and found 15 aircraft with components that needed replacement.

Business • 03 Sep 24

Rolls-Royce says confident on 2024 forecasts

Britain's Rolls-Royce said it was confident on meeting its 2024 forecasts as air travel continues to grow, demand for power for data centres picks up and the engineering group focuses on finding efficiencies and contractural improvements.

Business • 23 May 24

Shares in Rolls-Royce rocketed over 200% last year, making it the top performer in Britain's FTSE index

Profits at Rolls-Royce more than doubled in 2023

Britain's Rolls-Royce said annual profit more than doubled last year, beating consensus, and it forecast a further jump in 2024 as aircrafts powered by its engines fly more, defence orders flow and data centre demand rises.

Business • 22 Feb 24

Rolls-Royce has been through multiple restructurings over the last decade, including one in 2020 aimed at surviving the pandemic which resulted in 9,000 job cuts.

Rolls-Royce to cut up to 2,500 jobs in efficiency drive

Rolls-Royce said today it would cut up to 2,500 jobs as its new chief executive seeks to build a more efficient business, the latest boss to attempt to revamp one of Britain's most prestigious engineering companies.

Business • 17 Oct 23

Rolls-Royce today announced a 57% rise in underlying operating profits

New Rolls-Royce boss says more to come as profits rise

The new chief executive of Britain's Rolls-Royce has forecast more profit growth in 2023 after last year beat expectations, and said the engineering company was capable of "much more" as his transformation plan starts to take shape.

Business • 23 Feb 23

The deal comprised a 10% pay increase and a one-off payment of £2,000 and will apply to 1,200 Rolls-Royce workers

Workers at Rolls-Royce UK car plant win record pay deal

Thousands of workers at luxury carmaker Rolls-Royce Motor Cars have agreed a pay deal worth up to 17.6%, trade union Unite said today, calling it the largest single pay deal in the history of the factory in England.

Business • 16 Dec 22

Rolls-Royce said that it would give the cash lump sum of £2,000 to 11,000 shop-floor workers as well as 3,000 junior managers

Rolls Royce offers cash to workers facing inflation

British aircraft engine maker Rolls-Royce said it was offering a cash lump sum of £2,000 to about 70% of its UK workforce to help them navigate high living costs.

Business • 21 Jun 22

The engine maker plunged to a record £4 billion underlying loss for 2020 as its airline customers stopped flying

Rolls-Royce expects UK approval for nuclear reactor

A Rolls-Royce design for a small modular nuclear reactor (SMR) will likely receive UK regulatory approval by mid-2024 and be able to produce grid power by 2029, Paul Stein, chairman of Rolls-Royce Small Modular Reactors, told Reuters.

Business • 19 Apr 22

Carlsberg has a 31% share of Ukraine's beer market

Companies shut Ukraine operations, watch for sanctions

Soft drinks bottler Coca-Cola HBC has closed its plant in Ukraine, and asked staff in the country to remain at home following Russia's invasion of its former Soviet neighbour, a spokesperson told Reuters via email.

Business • 24 Feb 22

Rolls-Royce has more than 400 airlines and leasing customer across the world

Rolls-Royce upbeat on cash outflow on market rebound

Rolls-Royce expects its free cash outflow in fiscal year 2021 to be better than the previous guidance of £2 billion due to cost cuts and a recovery in the broader market, the British engineering group said today.

Business • 09 Dec 21

Much of Rolls-Royce's income from airline customers dried up last year when travel stopped and it has cut costs

Rolls-Royce names its first female chair

Rolls-Royce said that Anita Frew would succeed Ian Davis as chair in October, making her the first woman to chair the British aero-engine company when Davis retires after nine years in the role.

Business • 09 Jun 21

Despite reporting a bigger than expected loss for last year, Rolls-Royce stuck to its outlook for 2021

Rolls-Royce reports worse than expected £4 billion loss

The worst of the Covid-19 crisis is over for Rolls-Royce, its chief executive predicted today, after the engine maker plunged to a record £4 billion underlying loss for 2020 as its airline customers stopped flying.

Business • 11 Mar 21

Rolls-Royce said it was holding talks with trade unions over the matter

Rolls-Royce to briefly shut UK engine factories

British aircraft engine manufacturer Rolls-Royce has said it will temporarily shut its jet engine factories for a fortnight this summer to combat a coronavirus-fuelled slump in demand.

Business • 08 Feb 21

Rolls-Royce said that less flying would mean it loses more cash this year

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.

Business • 26 Jan 21

Rolls-Royce, whose engines power Boeing 787s and Airbus A350s, has been hit by the travel slump during the pandemic

Rolls-Royce warns outlook is still challenging

UK engineering company Rolls-Royce stuck to its guidance to turn cash flow positive during the second-half of next year, despite warning that the outlook remains challenging and the pace of the recovery is uncertain.

Business • 11 Dec 20

Rolls-Royce has been badly hit by the pandemic-induced downturn in aviation

Rolls-Royce unveils £5bn plan to shore up finances

British aerospace giant Rolls-Royce, facing plunging demand as the coronavirus pandemic sparks an air transport crisis, has launched plans to shore up its finances by up to £5 billion.

Business • 02 Oct 20

Rolls-Royce is facing plunging demand as the coronavirus sparks an air transport crisis

Rolls-Royce launches £5 billion plan to boost finances

Aerospace giant Rolls-Royce, facing plunging demand as coronavirus sparks an air transport crisis, has today launched plans to boost its finances by as much as £5 billion (€5.5 billion).

Business • 01 Oct 20

Rolls-Royce wants to sell its Spanish unit ITP Aero and other assets to raise at least £2 billion

Rolls-Royce eyes disposals to boost Covid-hit finances

British aero-engine maker Rolls-Royce said it would sell assets to try to raise at least £2 billion as it battles to shore up a balance sheet ravaged by the Covid-19 pandemic and slump in travel.

Business • 27 Aug 20

Rolls-Royce makes engines for the Boeing 787 and Airbus 350

Rolls-Royce posts cash outflow of £3 billion in H1

Aerospace engineer Rolls-Royce said it had burned through £3 billion in its first half as the hours flown by its engines halved due to the Covid-19 pandemic.

Business • 09 Jul 20

Rolls-Royce said it needs to lay-off at least 9,000 of its 52,000 staff

Rolls-Royce to lay-off 9,000 people due to Covid-19

Rolls-Royce plans to cut at least 9,000 jobs, or more than a sixth of its workforce, in the latest blows to the UK economy and aviation industry dealt by the coronavirus pandemic.

Business • 20 May 20