The Rolls-Royce miracle is stunning, but it didn’t happen overnight | Nils Pratley

The CEO described Rolls as ‘a burning platform’ when he arrived in 2023, but its trajectory was already upwardsIt wasn’t an imagined nightmare: Rolls-Royce really was flat on its back in 2020 during the early stage of the Covid pandemic. Cash was flowing out of the engine-maker at an annual rate of £4bn as the commercial airline industry, like the rest of us, went into lockdown.Management was modelling a “severe but plausible downside scenario” in which things