Aircraft Engine Manufacturer Rolls Royce Needs to Sell Assets to Raise Funds

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Rolls Royce Engine
This Rolls Royce engine once powered Concords Credit: Timitrius flickr

THE company that manufactures Rolls Royce engines has suffered considerably from the pandemic and the lockdown and is looking to sell a number of subsidiaries to raise €2.2 billion.

Marked for disposal is Spanish based engine and turbine manufacturer ITP Aero and with a €2.19 billion loan due to be repaid by October 2021 it needs cash as quickly as possible as well as a return to production of engines.

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With 4,000 staff lost so far, it expects to shed a further 5,000 across the group this year.




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