Rolls-Royce is throwing its financial goals for this year is over. Also, will the British builder of aero-engines for the first time since 1987 that no dividend be distributed to shareholders.
Rolls-Royce has a tough time now, aircraft customers, Airbus and Boeing are on the ground. The airlines pay Rolls-Royce per flown hour, so the British engine manufacturer, the past six weeks in a 300-million (341 million eur), pound sterling misliep. The number of hours of flight time was in march, a 50 per cent lower, and further deterioration is expected for the month.
Because it is still unclear how long the current coronacrisis will be held, the group decided on the goals you have for this year is to be removed. Also, it cuts Rolls-Royce to the costs to be financially sound, to continue, said chief executive Warren East is to join. The company wants to be on this year’s payroll, with a 10 per cent reduction. In addition, Rolls-Royce and a revolving credit facility of € 1.5 billion-pound agreed, that it is the liquidity, to 6.7 billion pounds, was able to raise it.
The industrial group cut a further 137 million pounds, with no final dividend for the year is 2019 and to pay. Other cost-saving measures, such as the elimination of non-essential projects, and a salary reduction, will be, and what the government of this year and a further 750 million pounds of produce.