Engine-maker’s shares tumble as it says it expects to burn through £2bn in cash
Rolls-Royce has slashed its forecast of flying hours and expects to burn through £2bn in cash this year, as uncertainty about the new coronavirus variants and increased travel restrictions put the brakes on a recovery in air travel.
The engine-maker said it expects engine flying hours to be about 55% this year compared with pre-Covid levels in 2019.
