Rolls-Royce Plans Major Overhaul with Asset Sales and Profit Quadrupling
CEO Tufan Erginbilgic's ambitious strategy includes re-entering the narrowbody jet engine market and seeking outside investment for certain divisions.
- Rolls-Royce plans to sell up to £1.5bn of assets, including its electric plane and flying taxi divisions, as part of CEO Tufan Erginbilgic’s plan to quadruple profits to a minimum of £2.5bn by 2027.
- The company is considering outside investment in its power generation and battery storage divisions.
- Rolls-Royce plans to re-enter the market for engines for smaller 'narrowbody' passenger jets, such as the Airbus A320 and Boeing 737, a market it exited in 2011.
- The company's defence division aims to use its atomic power to develop more products for civilian and defence applications.
- Shares in Rolls-Royce rose by 7% in early Tuesday trading, following a rise of almost 200% in the past year.
Reuters 
The Telegraph 
