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Rolls-Royce has enough funding to weather the crisis in the aviation industry caused by the pandemic, its chief executive said on Thursday, after the engine maker plunged to a record 4 billion pound ($5.6 billion) underlying loss for 2020. ....
By Reuters Staff 1 Min Read FILE PHOTO: Warren East, CEO of Rolls Royce, speaks at the Confederation of British Industry s (CBI) annual conference in London, Britain, November 19, 2018. REUTERS/Toby Melville LONDON (Reuters) - Rolls-Royce’s chief executive said the worst was now behind the company after it posted a 4 billion pound ($5.57 billion) loss for 2020. “2020 certainly marks the low point. We think that the worst is now well behind us,” Chief Executive Warren East told reporters on a call on Thursday. ($1 = 0.7179 pounds) ....
Rolls-Royce Announces Board Changes LONDON (dpa-AFX) - Automobile major Rolls-Royce Holdings Plc (RYCEF.PK, RR.L, RYCEY.PK) on Thursday announced the appointment of Paul Adams as a Non-Executive Director. He will join the Board with immediate effect and be a part of the Nominations & Governance Committee, the Safety, Ethics & Sustainability Committee and the Science & Technology Committee. Separately, the company announced that Board members Lewis Booth, Frank Chapman and Jasmin Staiblin would step down from the Board on May 13 and would not stand for re-election at the Annual General Meeting or AGM. Both Booth and Chapman completed their nine-year terms in 2020 and were re-elected by shareholders at last year s AGM. Staiblin would be completing her nine-year term in May this year. ....
3 Min Read (Reuters) - Rolls-Royce said on Thursday it had extended an exclusive deal to provide engines for the Airbus A350-900 to 2030, cementing its alliance with the European plane maker and deferring a potential challenge from rival General Electric. FILE PHOTO: Rolls Royce Trent XWB engines, designed specifically for the Airbus A350 family of aircraft, are seen on the assembly line at the Rolls Royce factory in Derby, November 30, 2016. REUTERS/Paul Ellis/Pool Rolls already had a formal exclusive agreement to provide Trent XWB-family engines on the larger A350-1000 wide-body jet, and held what industry sources have described as “de facto” exclusivity on the stronger-selling A350-900 until 2025. ....