Rolls-Royce logs £5.4 bn H1 loss on coronavirus impact

Aerospace giant Rolls-Royce logs £5.4 bn H1 loss on coronavirus impact

Representative image. Credit: Reuters/file

British aerospace giant Rolls-Royce said Thursday that it suffered a massive net loss in the first half of the year as the coronavirus outbreak sparked a crisis in air transport.

Rolls, which operates in the air, defence and energy sectors, posted a net loss of £5.4 billion ($7.1 billion, 6.0 billion euros) in the six months to June, after a net loss of £909 million a year earlier.

The company also unveiled a £2.0-billion asset disposal programme.