Rolls-Royce has said it is now on a “clear path” back to investment as it continues with its recovery following the pandemic.
In a trading update on Thursday (November 3), the aerospace giant reported large engine flying hours were at 65% of 2019 levels in the four months to the end of October - and up 36% on the year to date.
The company, which has UK bases in Filton, South Gloucestershire, and Derby, said it had completed its disposal programme with the sale of its engineering business ITP Aero, enabling it to repay £2bn of debt. It also confirmed two five-year contracts renewed in defence, securing $1.8bn of continued aftermarket services.
