Shares in Rolls-Royce (LON: RR), the UK aerospace and defence company, had been on the slide long before Covid. Technical problems with its flagship Trent 1000 engine and mounting debts had already weakened the company, but the devastation to the commercial air travel industry caused by the Covid pandemic created major liquidity problems, and in September 2020 pushed its shares to an all-time low of 38.98p.
Since then, an aggressive programme of cost-cutting, disposals of non-core assets and new contracts has seen shares gain more than 270%. Shares opened for trading on 15 November at 145.10p.
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