Rolls-Royce Holdings Plc said sales won’t grow this year for the first time in a decade as lower demand for defense equipment cuts into civil-aviation sales, sending the stock tumbling the most in more than 13 years.
Boeing Co., the world’s largest planemaker, rose the most in more than two years after boosting its annual profit forecast and beating analysts’ third-quarter estimates with an increase in jetliner deliveries.
Rolls-Royce Plc faces costs and penalties of more than the 50 million pounds ($80 million) to fix its Trent 900 engine that blew up on an Airbus SAS A380 operated by Qantas Airways Ltd., according to Nick Cunningham of Agency Partners.
European Aeronautic, Defence & Space Co. proclaimed the dawning of an era of corporate simplicity featuring a slimmer company structure, steady dividends, less program risk -- and a new name short enough to fit on a T-shirt.
Rolls-Royce Holdings Plc, Europe’s largest maker of commercial aircraft engines, said the U.K. Serious Fraud Office has begun a formal investigation related to potential wrongdoing in business dealings in Asia.
Airbus SAS and Rolls-Royce Group Plc began investigating why an engine on a Qantas Airways Ltd. A380 superjumbo exploded in mid flight, forcing an emergency landing in the worst incident since the aircraft began service in 2007.
Chemring Group Plc, a U.K. supplier of countermeasures for combat jets, fell the most in 16 years after saying global political turmoil, currency shifts and production snags will reduce earnings this year and next.
European defense companies from Rheinmetall AG to Cobham Plc are bearing the brunt of government budget cuts, contrasting with a more upbeat outlook in the U.S., where companies are still showing resilience to reductions.
European Aeronautic, Defence & Space Co. ’s rejection for a $35 billion U.S. tanker contract threatens its goal to cut reliance on commercial aircraft and may force it to seek acquisitions at home to build up defense operations.