Rolls-Royce Reports £1.6bn Profit as Air Travel Rebound Boosts Engine Services
Rolls-Royce has announced a significant financial turnaround, posting a pre-tax profit of £1.6 billion for 2023. This marks a dramatic recovery from the £1.5 billion loss recorded in the previous year. The company credits the strong performance to the post-pandemic rebound in air travel, which increases revenue from servicing its large engines. Long-haul flying hours have now recovered to 88% of 2019 levels. The firm's new CEO also highlighted the success of a transformation program aimed at improving efficiency and cutting costs.
Official Source: https://www.bbc.com/news/articles/crrpx4p1z71o?at_medium=RSS&at_campaign=rss
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