(Reuters)-UK Rolls-Royce (OTC :) said on Sunday that it is proposing a two-week shutdown of civilian aerospace units during the summer to control costs due to the impact of the COVID-19 pandemic. ..
The aero engine maker has begun discussions with the union on the closure of civilian aerospace units and cost savings, said in an email statement.
“We are proposing a two-week outage of civil aerospace during the summer as we continue to manage our cost base in response to the ongoing impact of the COVID-19 pandemic on the entire commercial aviation sector.” Stated.
Rolls-Royce’s finances were hit by the COVID-19 crisis as airline customers landed the plane. Last month, he warned that travel would be even more restricted than expected this year, leading to increased cash outflows.
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Rolls-Royce plans to close Reuters’ civil aerospace business for two weeks
https://www.investing.com/news/stock-market-news/rollsroyce-plans-twoweek-shutdown-of-civil-aerospace-business-2411577 Rolls-Royce plans to close Reuters’ civil aerospace business for two weeks