Rolls-Royce plans two-week shutdown of civil aerospace business

Britain’s Rolls-Royce said on Sunday it is proposing a two week operational shutdown of its civil aerospace unit over the summer as it manages costs due to the impact of the COVID-19 pandemic.

The aero-engine maker has begun talks with unions on the shutdown and cost cutting at its civil aerospace unit, it said in an emailed statement.

“As we continue to manage our cost base in response to the ongoing impact of the COVID-19 pandemic on the whole commercial aviation sector, we are proposing a two week operational shutdown of Civil Aerospace over the Summer,” it said.

Rolls-Royce’s finances have been hit by the COVID-19 crisis as its airline customers have grounded planes. It warned last month that travel would be even more constrained than expected this year, leading to increased cash outflow.

Source: Reuters

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.