LONDON: Britain's Rolls-Royce downgraded expectations for how much its engines would fly this year and warned of a big cash outflow, blaming extra travel restrictions aimed at stopping the spread of new COVID-19 variants.
Rolls-Royce said it now expected a cash outflow in the region of 2 billion pounds ($2.7 billion) in 2021, higher than current analyst estimates which range from Morgan Stanley's 900 million pounds to 1.55 billion pounds forecast by Jefferies.
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