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

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

December 11, 2020

LONDON (Reuters) – British engineering company 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 more recently the pace of recovery had slowed due to an uptick in infection rates.

(Reporting by Sarah Young, Editing by Paul Sandle)

The post Rolls-Royce sticks to guidance, on track for cost-saving target first appeared on One America News Network.

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