- Rolls-Royce (OTCPK:RYCEY +1.4%) says it is holding discussions about a new aircraft program with Boeing (BA +3.1%).
- Rolls CEO Warren East told the company's annual meeting that its UltraFan engine has advanced to the point where the company is keeping an open mind, adding that the engine might not be suitable for a smaller design.
- Rolls says its YTD performance has been in line with expectations and maintains it will return to positive free cash flow in H2 2021 as COVID-19 vaccinations rise and air travel revives.
- The company says it is progressing well with its £2B disposal plan and had an "encouraging number of interested parties" for ITP Aero, which could raise €1.5B.
- Rolls-Royce's annual general meeting report shows "the firefighting is over and stability established," Jefferies analysts say.
- CEO Warren East has said Rolls has the funding to withstand the aviation industry crisis, after the company finished FY 2020 with a worse than expected underlying loss.