Just a few months ago, the new chief of Rolls-Royce described the company as a "burning platform" that was severely underperforming compared to its competitors. Seven months on, the tide has turned as the British aeroengineering company reported a massive fivefold increase in profits for the first half of 2023 compared to the same period last year.
Tufan Erginbilgic, a former BP executive, took the mantle at Rolls-Royce at the start of the year and kicked off a program to address the company's operations and cut costs.
