Rolls-Royce sticks to guidance, on track for the cost-saving target

The logo of Rolls-Royce is pictured at the World Nuclear Exhibition (WNE), the trade fair event for the global nuclear community in Villepinte near Paris, France

Rolls-Royce stuck to its guidance to turn cash flow positive during the second half of next year and said it was on track to deliver its cost-saving targets.

Rolls-Royce said engine flying hours, a key measure of its income, were down 42% in the 11 months to November as COVID-19 choked airline flying and warned that the pace of recovery had slowed more recently due to an uptick in infection rates.

Was it worth reading? Let us know.