Rolls-Royce plans two-week shutdown of civil aerospace business
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Managing cost due to pandemic
Britain's Rolls-Royce said on Sunday it 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.
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Official statement
The aero-engine maker has begun talks with unions on the shutdown and cost cutting at its civil aerospace unit, it said in an emailed statement.
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Two week operational shutdown
"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.
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Finances hit by pandemic
Rolls-Royce's finances have been hit by the COVID-19 crisis as its airline customers have grounded planes.
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Cash outflow
Rolls-Royce warned last month that travel would be even more constrained than expected this year, leading to increased cash outflow.