Rolls-Royce Unlikely to Face High Costs From Cathay Pacific Engine Issue -- Market Talk

Dow Jones09-03

1019 GMT - Rolls-Royce Holdings is unlikely to face high costs from Cathay Pacific's discovery of a component failure in an aircraft engine made by the U.K. company, Jefferies analysts Chloe Lemarie and Ben Brown say in a research note. While much remains to be clarified, the 2.7 billion pound drop in market cap Rolls-Royce suffered Monday implies costs per aircraft that feel excessive, the analysts say. There are 87 aircraft in service with Rolls-Royce's Trent XWB-97 engines, the variant that powered the Zurich-bound plane that experienced the issue, according to Jefferies. The Trent 1000 issues that led Rolls-Royce to book 2.4 billion pounds of excess cash costs over 2017-22 affected more than 500 in-service engines, Jefferies says. Shares trade 2.89% higher at 477.70 pence, partly recovering from a 6.5% drop Monday. (nina.kienle@wsj.com)

(END) Dow Jones Newswires

September 03, 2024 06:19 ET (10:19 GMT)

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There are 87 aircraft in service with Rolls-Royce's Trent XWB-97 engines, the variant that powered the Zurich-bound plane that experienced the issue, according to Jefferies. The Trent 1000 issues that led Rolls-Royce to book 2.4 billion pounds of excess cash costs over 2017-22 affected more than 500 in-service engines, Jefferies says. Shares trade 2.89% higher at 477.70 pence, partly recovering from a 6.5% drop Monday. 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