News
Rolls-Royce reports increased flying hours for its large engines
November 4th 2022
In a trading update, Rolls-Royce said the flying hours of its large commercial aircraft engines were at 65% of pre-COVID-19 levels in the four months to October 31. Read More » Flying hours achieved so far in calendar 2022 are at 36%, it said. “The recovery in large engine flying hours, a record order intake in power systems and resilience in the defence business gives us confidence in the future,” Rolls-Royce CEO, Warren East, said. “We continue to focus on operational execution and delivering on our commitments. We have maintained our group financial guidance for 2022. The improving flying hours and a forecast increase in spare engine sales are expected to drive strong cash conversion.” Operational cash is predicted to comfortably exceed operating profit in the medium term as outlined at the company's civil aerospace investor day last May, a Rolls-Royce statement said.
