Rolls-Royce shares rose on Tuesday, recovering some losses from Monday after Cathay Pacific canceled flights due to technical issues with Rolls-Royce's engines. The problem was identified in fifteen Airbus aircraft, leading to the cancellation of nearly forty flights. Cathay Pacific and Rolls-Royce are investigating the issue, with repairs expected to be completed by Sept. 7th. Rolls-Royce's share price struggled during the pandemic due to supply chain issues and reduced aviation demand but surged over 220% in 2023 following a successful restructuring and efficiency program.
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00:00It's Benzinga, and here's what's on the block.
00:02Rolls-Royce shares rose on Tuesday, recovering some losses from Monday after Cathay Pacific
00:07cancelled flights due to technical issues with Rolls-Royce's engines.
00:11The problem was identified in 15 Airbus aircrafts, leading to the cancellation of nearly 40 flights.
00:17Cathay Pacific and Rolls-Royce are investigating the issue with repairs expected to be completed
00:21by September 7.
00:23Rolls-Royce's share price struggled during the pandemic due to supply chain issues and
00:27reduced aviation demand, but surged over 220% in 2023 following a successful restructuring
00:33and efficiency program.
00:34For all things money, visit Benzinga.com.