Janus Posted October 1, 2020 Share Posted October 1, 2020 (edited) Engine maker Rolls Royce are falling like a stone. One of their major incomes is revenue from flying hours of aircraft that are fitted with their engines. Apparently many aircraft are now being put in to storage. RR are intending to try and raise £2 billion from share holders. Edited October 1, 2020 by Janus Typo Link to comment Share on other sites More sharing options...
tzijlstra Posted October 3, 2020 Share Posted October 3, 2020 Rolls Royce, Bombardier, Airbus, British Airways, Ryanair, EasyJet, Thomas Cook (RIP), TUI, Royal Shell, BP, the airports, ferry companies, SME pubs/restaurants/hotels, small shops... they're all about to collapse. Link to comment Share on other sites More sharing options...
nightrider Posted October 3, 2020 Share Posted October 3, 2020 (edited) 55 minutes ago, tzijlstra said: Rolls Royce, Bombardier, Airbus, British Airways, Ryanair, EasyJet, Thomas Cook (RIP), TUI, Royal Shell, BP, the airports, ferry companies, SME pubs/restaurants/hotels, small shops... they're all about to collapse. Don’t forget the music industry. Nearly all freelancers who had no support. I know of Classical professionals selling their instruments to buy more time before they run out of money. Also saw article this week in the news that pop musicians have no income and are in trouble. Not to mention lighting people, stage people, roadies etc. A specialist engineering company we use at work has gone under too, leaving us high and dry. Uni got rid of many teaching staff earlier in the year too. I don’t see how we won’t have a huge recession coming and a lot of homelessness. Edited October 3, 2020 by nightrider Link to comment Share on other sites More sharing options...
Janus Posted October 3, 2020 Author Share Posted October 3, 2020 What a mess eh? There must be a massive hole in the revenue that the government is receiving now from income tax & vat. Big businesses going bust may well have an effect on private and workplace pensions. What next? A reduced state pension and also unemployment benefits? Link to comment Share on other sites More sharing options...
Tony Posted October 4, 2020 Share Posted October 4, 2020 Like almost every firm, they are having to make changes to their business model. If RR are in "major financial trouble" they won't be able to raise the cash. They will so they aren't. It is a mess though. Link to comment Share on other sites More sharing options...
tinfoilhat Posted October 4, 2020 Share Posted October 4, 2020 Cineworld going down too. Link to comment Share on other sites More sharing options...
Janus Posted October 5, 2020 Author Share Posted October 5, 2020 22 hours ago, Tony said: Like almost every firm, they are having to make changes to their business model. If RR are in "major financial trouble" they won't be able to raise the cash. They will so they aren't. It is a mess though. 😂The financial markets have now given the company junk status. Link to comment Share on other sites More sharing options...
Tony Posted October 5, 2020 Share Posted October 5, 2020 17 minutes ago, Janus said: 😂The financial markets have now given the company junk status. That's not what you said though. The rights issue / cash raising will provide the cash to secure the balance sheet which means that the business is not in "major financial trouble". If you're a savvy investor it might be a good time to grab a bargain if you think that RR will still be around in a couple of years, which looks more than likely. Link to comment Share on other sites More sharing options...
nightrider Posted October 5, 2020 Share Posted October 5, 2020 10 minutes ago, Tony said: That's not what you said though. The rights issue / cash raising will provide the cash to secure the balance sheet which means that the business is not in "major financial trouble". If you're a savvy investor it might be a good time to grab a bargain if you think that RR will still be around in a couple of years, which looks more than likely. They are involved with our nuclear deterrent. So they will get bailed out eventually if they could not stay afloat. So the business will surely exist. Maybe it will be smaller and be doing less though. Link to comment Share on other sites More sharing options...
Tony Posted October 5, 2020 Share Posted October 5, 2020 For sure. From what little I've read about the RR situation it looks like the government bailout has been averted so that's positive. They, along with P&W, develop, make and maintain most of the world's jet engines and even if aviation contracts the likelihood of either firm disappearing is negligible. RRs small nuclear plants always seems to be on the cusp of making waves. Perhaps the Covid situation will energise that sector. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now