Provisions for re-engineering costs and compensation as a result of the failing engines has pushed up to £790 million PAUL ELLIS / REUTERSRolls-Royce’s failure to shrug off its engine problems has led it to book charges for losses on the grounding of dozens of Boeing 787 Dreamliners that increased by nearly 50 per cent to £790 million, sending the company plunging once more into the red. Chastened by its failings on the Trent 1000 for the Dreamliner, Rolls also announced its unexpected withdrawal from the competition to provide next-generation, ultra-efficient engines for Boeing’s new mid-sized aircraft made from composites planned for the next decade. Rolls admitted that it did not believe that it could have a new product ready in time. The new Boeing programme had been expected to be a potential long-term money-spinner for the company. The reversals for Rolls-Royce, a company with a history of…

Source: The Times February 28, 2019 09:11 UTC