Coronavirus: Rolls-Royce considers tapping investors as 2.5 billion

Coronavirus: Rolls-Royce considers tapping investors as 2.5 billion

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Ronalds Royce is considering tapping investors তার 2.5 billion into its financial development as the coronavirus continues to wreak havoc on world travel.

The company, which built the engine for the aircraft, said it was “evaluating” the increase and was looking at a number of options, including rights issues.

Rolls-Royce had previously said it did not expect to return to pre-epidemic levels in five years.

It has already announced 9,000 job cuts as part of a major restructuring.

The Financial Times first reported that Rolls-Royce was considering raising £ 2.5 billion and was in talks with several sovereign wealth funds, including Singapore’s GIC.

The company said: “We are reviewing all funding options to increase the resilience and strength of the balance sheet.

“Among other options, we are evaluating the feasibility of raising equity up to 2.5 2.5 million through various structures through various structures, including a rights issue and other potential equity issues. Our review also includes the issuance of new debt.”

It added that “no final decision has been made on either of these options or when to proceed or the exact amount raised.”

The government holds the “gold part” in Rolls-Royce, which prevents the company – which is considered a strategic interest in the UK – from coming under foreign control.

Record loss

In August, Rolls-Royce announced a record 5.4 billion loss for the first half of its fiscal year.

The world travel industry could virtually stop due to the epidemic. Activity selection expectations have been dashed by changes that require countries to self-exclude UK travelers from the separation list.

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Under the “Power to Hour” model, Rolls Royce earns money every time it flies using an engine. It generates about 4 4 billion a year through this model.

However, it expects flight times to be halved for this financial year.

Nearly 3,000 jobs are being lost in the UK and the number of sites worldwide is down from 11 to six, including factory closures in Nottinghamshire and Lancashire.

It hopes to restructure 3 3.3 billion by the end of 2022 as a result of the restructuring of its civil space.

Rolls-Royce aims to raise more than ২ 2 billion by selling parts of the group, including Spain’s ITP Aero Turbine.

Last month, the company finalized a 2 2 billion loan, partly backed by a government agency called UK Export Finance.

Although Rolls-Royce’s civilian space business has been affected by the epidemic, the agency said its defense department is stable and, in its most recent results, has seen a 2% increase in revenue.

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