Rolls-Royce plunges into the red on air travel hit

While Rolls-Royce has lost billions and continues to burn through cash, investors will take some limited reassurance from this set of results. Chief executive Warren East forecast that the company will turn cash positive in the second-half of this year, and that the number of hours its engines spend in the air – a vital metric as the company only earns money when planes fly – will increase this year, although only to 55% of pre-pandemic levels.

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