Rolls-Royce’s revenues down £11bn

The coronavirus epidemic, which has spread from China to the world and has been affecting the automotive industry for about a year, has deeply affected the automotive industry. Automotive companies had to suspend production due to restriction decisions taken around the world. Companies such as Renault, which had problems with spare part guarantees, decided to take a mandatory break from production. After the loss announcement of automotive companies such as Honda and Toyota, another bad news came from Rolls-Royce.

He turned to cost-reducing methods

In the end of the pandemic With the global uncertainty experienced in the aviation sector, which it most deeply affected, the UK-based automotive giant Rolls-Royce reported that its revenues decreased by 29 percent, to 11.82 billion pounds. Rolls-Royce, which posted an operating loss of 2.08 billion in the fourth quarter of last year, decreased by £0.53 per share in the same period. The CEO of the company, Warren East, said that the COVID-19 outbreak had a great impact on Rolls-Royce, especially on the civil aviation sector activities. East, as part of the measures taken against the negative effects of the epidemic, announced that with the largest restructuring of the company in its recent history, we consolidated our global manufacturing footprint and turned to cost-reducing methods.