Rolls-Royce faces a long haul back to high-flier status

With aviation revenue barely off the ground, the company will have little good news to give at this week’s trading updateTransport yourself back to another time, another, more innocent, world: January 2020. Warren East, chief executive of jet engine manufacturer Rolls-Royce, is losing a sympathetic but by this time well-lubricated audience for his keynote speech at the aerospace and defence industry’s annual shindig. The word coronavirus is still firmly confined to the foreign sections of newspapers (even if Asian markets are starting to get jittery), and the industry is readying itself for another year of growth.Even a month later, on 28 February, Rolls-Royce is able to shrug off the threat of the virus with results “reinforcing our confidence for 2020”. East predicts that the company will reduce the number of Boeing Dreamliners grounded because of longstanding issues with Rolls-Royce’s Trent 1000 engines to “single digits” by the end of June. Continue reading…
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