May 3, 2018 / 6:16 AM / 4 months ago

Rolls-Royce sticks to profit forecast, working on engine repair solution

LONDON, May 3 (Reuters) - Britain’s Rolls-Royce stuck to its profit and cash flow guidance for 2018 in a statement made ahead of its annual shareholder meeting, and said it was making progress with a plan to repair some problematic engines more quickly.

While a long-term turnaround programme to improve the engine-maker’s profits is on track, difficulties with one of its aero-engines, the Trent 1000 which powers Boeing Dreamliner 787 aircraft, has caused setbacks.

Turbine blades on some Trent 1000 engines have worn out sooner than expected, forcing airlines to disrupt their schedules to allow for the engines to be inspected more regularly.

Rolls-Royce said on Thursday that about two-thirds of the inspections had now been carried out, and the company was making “significant progress” in finding or developing new maintenance and repair facilities to enable it to fix engines and return them more quickly to airline customers.

Reporting by Sarah Young; editing by Kate Holton

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