At the company’s Annual General Meeting (AGM) held on May 2, Rolls-Royce chief executive Warren East confirmed that the company has settled compensation claims with “all airlines to be affected in the next two years”. The recent Trent 1000 orders were highlighted as proof that the issues with the engine type were now in the rear-view mirror.
East confirmed that the company is continuing to implement fixes to the Trent 1000 fleet. “Retrofits of the new design of the Intermediate Pressure Compressor (IPC) blade for the Package C variant are underway. Additionally, inspections of Trent 1000 TEN High Pressure Turbine Blades (HPTBs) are progressing and work continues on testing a redesigned HPTB for the Trent 1000 TEN ready for introduction into the fleet in early 2020,” he said.
Rolls-Royce states that it’s guidance for in-service cash costs on the Trent 1000 in 2019 and 2020, as published in February, remains unchanged at approximately £1.5bn. The engine manufacturer also confirmed its confidence in its 2019 full year operating profit and free cash flow guidance of £700m +/- £100m. East also added that the company’s restructuring programme has continued to “make progress” on its aim to bring down commercial and administrative costs, improve engineering efficiency and drive lasting culture change at Rolls-Royce.