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Rolls-Royce forecast to be ‘free cash flow positive” in second half of 2021
May 14th 2021
Engine OEM Rolls-Royce told shareholders at the company's annual general meeting overnight engine flying hours during the first four months of 2021 were at 40% of 2019 levels, which was broadly unchanged from the run rate at the end of 2020 and consistent with its planning assumptions. Read More » Rolls-Royce said it expected to turn free cash flow positive "at some point during the second half of 2021" as engine flying activity recovered and cost savings were delivered. "Looking ahead, we are confident the significant restructuring actions we have taken in 2020 will deliver permanent cost reductions, positioning us well for the rebound in international air travel," Rolls-Royce CEO, Warren East, said. Separately, it was reported East told shareholders the company, "like other manufacturers", was in dialogue with Boeing about the aircraft maker's evaluation of a potential new aircraft model.
