Rolls-Royce (RR.L) announced a huge £4b loss in 2020, with revenue sinking by almost a third to £11.8b.
Though the company is more commonly known for its bouji cars, it is, in fact, an engineering giant with a huge aviation business. Rolls-Royce’s Civil Aerospace business normally contributes to the bulk of its revenues. And since we all know that planes were also “staying at home” in 2020, this line of business naturally took a toll due to Covid-19.
Ordinarily, Rolls-Royce gets makes engines for plane manufacturers like Boeing (BA) and Airbus (AIR).