20 September 2019
TRENT 1000 UPDATE
On 6 August 2019, with our Half Year Results, we cautioned that the rate of recovery in Trent 1000 Aircraft On Ground (AOG) this year was likely to be slower than our original plans, due to the additional Maintenance Repair & Overhaul (MRO) load resulting from faster deterioration of the high pressure turbine (HPT) blade on the Trent 1000 TEN. This has remained a challenge.
Since then, we have also taken a proactive decision to accelerate intermediate pressure turbine (IPT) blade replacement for the limited number of Package B and C engines yet to be fitted with the final standard of IPT blade. This has led to additional engine removals. As a result, though we continue to work on further increasing our MRO capacity, these challenges mean that we now expect the return to single-digit level of AOGs on the Trent 1000 to be delayed until Q2 2020. We deeply regret the additional disruption that this will cause our customers and we continue to work closely with them to minimise the impact on their operations.
Our guidance for the cash costs of the Trent 1000 Package B and C in-service issues in 2019 and 2020 remains as announced on 6 August 2019.
About Rolls-Royce Holdings plc
1. Rolls-Royce pioneers cutting-edge technologies that deliver clean, safe and competitive solutions to meet our planet's vital power needs.
2. Rolls-Royce has customers in more than 150 countries, comprising more than 400 airlines and leasing customers, 160 armed forces, 70 navies, and more than 5,000 power and nuclear customers.
3. Annual underlying revenue was £15 billion in 2018, around half of which came from the provision of aftermarket services.
4. In 2018, Rolls-Royce invested £1.4 billion on research and development. We also support a global network of 29 University Technology Centres, which position Rolls-Royce engineers at the forefront of scientific research.
5. The Group has a strong commitment to apprentice and graduate recruitment and to further developing employee skills.
For further information, please contact:
Investors:
Jennifer Ramsey
Head of Investor Relations
Rolls-Royce plc
Tel +44 (0) 20 7227 9087
+44 (0) 7825 903206
jennifer.ramsey@rolls-royce.com
Peter Lapthorn
Investor Relations Manager
Rolls-Royce plc
Tel +44 (0) 20 7227 9079
+44 (0) 7717 811069
peter.lapthorn@rolls-royce.com
Media:
Richard Wray
Director of External Communications & Brand
Rolls-Royce plc
Tel +44 (0) 20 7227 9163
+44 (0) 7974 918416
Daisy Omissi
VP External Communications - Civil Aerospace
Rolls-Royce plc
Tel +44 (0) 7500 990583
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
