Good morning: The engineering group Rolls-Royce lost a record £5.4 billion in the first six months of the year as large engine deliveries and flying hours halved. The group was also hit by foreign exchange losses. The troubled company said it intended to sell a number of businesses to raise £2 billion to boost its balance sheet. “Uncertainty remains high as a result of Covid-19,” Rolls-Royce said. “Since the low point in April when large engine flying hours were down 80 per cent, we have seen a modest recovery to between 70 per cent and 75 per cent down in May, June and July.” Traditionally about half of Rolls-Royce’s annual revenues come from the provision of aftermarket services linked to flying hoursShares in Rolls-Royce,

Source: The Times August 27, 2020 08:03 UTC