Rolls-Royce sticks to guidance, on track for cost-saving target

© Reuters. A man looks at Rolls Royce's Trent Engine displayed at the Singapore Airshow in Singapore

LONDON (Reuters) – British engineering company Rolls-Royce (OTC:RYCEY) stuck to its guidance to turn cash flow positive during the second-half of next year, and said it was on track to deliver its cost-saving targets.

Rolls-Royce said engine flying hours, a key measure of its income, were down 42% in the 11 months to November as COVID-19 choked airline flying, and warned that more recently the pace of recovery had slowed due to an uptick in infection rates.

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