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Rolls-Royce Makes Business Rescue Plans

Summary

Why Rolls-Royce Cars Are So Expensive | So Expensive Description video: Rolls-Royce makes some of the world’s most luxurious and expensive cars. Known for producing hand-crafted automobiles that promise a seamless \”magical carpet ride\” for its customers, Rolls-Royce’s cars do […]

Why Rolls-Royce Cars Are So Expensive | So Expensive

Description video:
Rolls-Royce makes some of the world’s most luxurious and expensive cars. Known for producing hand-crafted automobiles that promise a seamless \”magical carpet ride\” for its customers, Rolls-Royce’s cars do not come cheap. With virtually unlimited optional extras, upgrades, and customizations, the true cost of a bespoke Rolls-Royce has no limits. So what are some of those bespoke extras? And is that what makes Rolls-Royces so expensive?\n\nMORE SO EXPENSIVE:\nWhy Apple Products Are So Expensive | So Expensive\nhttps://youtu.be/uPo_wmR4a68\nWhy Japanese Swords Are So Expensive | So Expensive\nhttps://youtu.be/767UcLMZTbo\nWhy Oysters Are So Expensive | So Expensive\nhttps://youtu.be/D2aZkpam2Ms\n\n——————————————————\r\n\r\n#SoExpensive #RollsRoyce #BusinessInsider\n\nBusiness Insider tells you all you need to know about business, finance, tech, retail, and more.\r\n\r\nVisit us at: https://www.businessinsider.com\r\nSubscribe: https://www.youtube.com/user/businessinsider\r\nBI on Facebook: https://read.bi/2xOcEcj\r\nBI on Instagram: https://read.bi/2Q2D29T\r\nBI on Twitter: https://read.bi/2xCnzGF\r\nBI on Amazon Prime: http://read.bi/PrimeVideo\r\n\r\n————————————————–\n\nWhy Rolls-Royce Cars Are So Expensive | So Expensive

Rolls-Royce Makes Business Rescue Plans

Rolls-Royce plans to raise a total of £ 5bn (including £ 2bn from shareholders) to restore its balance sheet as the coronavirus crisis continues to damage its cash flow.

Funds will also be raised through the issuance of new debt obligations.

Using its investment links with the governments of Kuwait and Singapore, Rolls-Royce reached out to shareholders in order to attract additional funds necessary to survive in the current crisis.

British company, which supplies engines for Boeing 787 and Airbus 350, announced its intention to cut 9 thousand jobs in May.

«Rising capital will increase our resilience to the impact of the pandemic», – Chief Executive Officer said Thursday Warren East.

«The sudden and significant impact of Covid-19 has had a significant impact on the commercial aviation industry, resulting in a sharp deterioration in the financial performance of our civilian aerospace business and energy systems projects», – he added.

Rolls-Royce said that despite a £ 4bn cash outflow this year, the company expects to return to profit in the second half of next year.

The company notes that a lot depends on the restoration of long-haul air transportation. Due to the still raging Covid-19 epidemic in Europe, airlines predict that it will be possible to reach pre-crisis flight levels only in 2024..

The fact is that the company makes money not on actual sales, but on the time that planes spend in the air using its engines.. 

The issue of raising additional capital is subject to approval by shareholders at the general meeting, which is expected to take place on October 27. 

These measures are part of government support for one of the UK’s most important exporters. One third of new loans will be issued against guarantees of the state agency UK Export Finance.

Rolls-Royce Makes Business Rescue Plans