Britain’s Rolls-Royce is proposing a two week operational shutdown of its civil aerospace unit over the summer as it manages costs due to the impact of the COVID-19 pandemic.
Disclosing the in a statement released on Sunday, the aero-engine maker said it had begun talks with unions on the shutdown and cost cutting at its civil aerospace unit.
“As we continue to manage our cost base in response to the ongoing impact of the COVID-19 pandemic on the whole commercial aviation sector, we are proposing a two week operational shutdown of Civil Aerospace over the Summer,” it said.
Rolls-Royce’s finances have been hit by the COVID-19 crisis as its airline customers have grounded planes. It warned last month that travel would be even more constrained than expected this year, leading to increased cash outflow.(Reuters)
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