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| Rolls-Royce aircraft engine fix will take 'some years' | Rolls-Royce aircraft engine fix will take 'some years' |
| (about 7 hours later) | |
| An engine fault that grounded planes at British Airways and other airliners will take "some years" to fix, Rolls-Royce has said. | An engine fault that grounded planes at British Airways and other airliners will take "some years" to fix, Rolls-Royce has said. |
| The aerospace giant said parts in its Trent 1000 engines were wearing out faster than expected but that it "had a solution" to the problem. | The aerospace giant said parts in its Trent 1000 engines were wearing out faster than expected but that it "had a solution" to the problem. |
| It came as Rolls-Royce reported better-than-expected results for 2017, following a record loss in 2016. | It came as Rolls-Royce reported better-than-expected results for 2017, following a record loss in 2016. |
| However, it signalled job losses ahead as the firm continues to cut costs. | However, it signalled job losses ahead as the firm continues to cut costs. |
| In December, Air New Zealand became the latest airliner to ground some of its flights because of problems with its Rolls-Royce engines. | In December, Air New Zealand became the latest airliner to ground some of its flights because of problems with its Rolls-Royce engines. |
| It said there had been "two recent events" involving Trent 1000 engines, one which required the plan to return to the airport after take-off. | It said there had been "two recent events" involving Trent 1000 engines, one which required the plan to return to the airport after take-off. |
| Japan's ANA and Virgin Atlantic have also had problems. | Japan's ANA and Virgin Atlantic have also had problems. |
| Rolls-Royce said up to 500 Trent 1000 engines - used on Boeing 787 planes - and some Trent 900 engines had technical problems. | Rolls-Royce said up to 500 Trent 1000 engines - used on Boeing 787 planes - and some Trent 900 engines had technical problems. |
| Boss Warren East told BBC Radio 4's Today programme: "First you have to realise that all mechanical things wear out over time, and some of the parts in our Trent engines are wearing out faster than we originally forecast. | Boss Warren East told BBC Radio 4's Today programme: "First you have to realise that all mechanical things wear out over time, and some of the parts in our Trent engines are wearing out faster than we originally forecast. |
| 'We have a plan' | 'We have a plan' |
| "We're having to manage the operational impacts because it's quite disruptive for our customers." | "We're having to manage the operational impacts because it's quite disruptive for our customers." |
| He added: "We have a solution, we have a plan, it will take some years to fully implement the modifications in all the engines which are in service." | He added: "We have a solution, we have a plan, it will take some years to fully implement the modifications in all the engines which are in service." |
| The firm reported better than expected earnings for 2017, with profits before tax of £4.9bn. | The firm reported better than expected earnings for 2017, with profits before tax of £4.9bn. |
| It follows a £4.6bn loss in 2016 - the largest in Rolls-Royce's history - due to settling corruption cases and currency hedges going wrong, among other factors. | It follows a £4.6bn loss in 2016 - the largest in Rolls-Royce's history - due to settling corruption cases and currency hedges going wrong, among other factors. |
| The news pushed shares in the company up by more than 14%. | The news pushed shares in the company up by more than 14%. |
| The firm attributed its performance to stronger sales of aero and diesel engines, as well as a £2.6bn accounting boost from the recent strengthening of the pound. | The firm attributed its performance to stronger sales of aero and diesel engines, as well as a £2.6bn accounting boost from the recent strengthening of the pound. |
| Job losses? | Job losses? |
| However, it said its 2018 figures could be impacted by the cost of carrying out the Trent engine repairs, and also that it would push ahead with a plan to "simplify its staff structure" to cut costs. | However, it said its 2018 figures could be impacted by the cost of carrying out the Trent engine repairs, and also that it would push ahead with a plan to "simplify its staff structure" to cut costs. |
| This would see it reduce its number of business divisions from five to three. | This would see it reduce its number of business divisions from five to three. |
| Mr East suggested corporate roles would be affected but stressed the revamp was not set to affect engineers or technologists. | Mr East suggested corporate roles would be affected but stressed the revamp was not set to affect engineers or technologists. |
| It comes after around 600 managers have left the group since 2015 under a previous overhaul. | It comes after around 600 managers have left the group since 2015 under a previous overhaul. |
| "It is too early to comment on specific numbers of job losses, but what I have been talking about for some time is we need to simplify our operation," Mr East said. | "It is too early to comment on specific numbers of job losses, but what I have been talking about for some time is we need to simplify our operation," Mr East said. |