After the first half of the year, the bottom line was a surplus of 393 million British pounds (461.5 million euros), as the company announced. A year earlier, Rolls-Royce had suffered a loss of 5.4 billion pounds. In addition to the collapse in air traffic in the corona pandemic, quality problems have repeatedly cost the manufacturer dearly.
In the first six months, sales of 5.2 billion pounds were nine percent lower than in the same period of the previous year, which was already marked by a pandemic. The manufacturer has relied on large long-haul jets for its aircraft engines and is largely paid for by the airlines based on operating hours. Since the corona crisis hit long-haul air traffic particularly hard, Rolls-Royce is suffering even more than other engine manufacturers such as Pratt & Whitney, MTU and Safran.
CEO Warren East expects sales to grow again in the second half of the year. And thanks to the latest incoming orders, the proceeds in 2022 should again reach the level of the pre-crisis year 2019. Meanwhile, Rolls-Royce continues to work to make money. The group reported progress in the planned sale of its subsidiary ITP Aero: The British announced on Wednesday that they had decided to hold exclusive talks with a consortium led by the financial investor Bain Capital. In February, the Munich-based manufacturer MTU had indicated a possible interest in ITP.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
