Rolls-Royce boss Tufan Erginbilgic is set to unveil his turnaround plan for the beleaguered jet engine maker, alongside the company's annual results. The plan comes after years of declining sales and financial struggles, with the COVID-19 pandemic dealing a further blow to the aviation industry.

Erginbilgic, who took over as CEO in July 2021, has already made it clear that he is focused on returning Rolls-Royce to profitability. The company has been forced to cut costs, including thousands of job losses, to survive.

The turnaround plan is expected to involve a major overhaul of the company's operations, including a focus on its core jet engine business. The plan is also expected to include a review of the company's investments and divestments, with a possible sale of some of its non-core assets.

The company has already made some significant changes under Erginbilgic's leadership. In October, Rolls-Royce announced that it was selling its Bergen Engines business to Weichai Power for $354 million. This was seen as a positive move by many analysts, who believe that the company needs to focus on its core operations.

However, the company still faces significant challenges. The aviation industry has been hit hard by the COVID-19 pandemic, with many airlines cutting back on their orders for new planes. This has had a knock-on effect on Rolls-Royce, which relies heavily on the aviation industry for its revenue.


Erginbilgic is well aware of these challenges, and has already hinted that the company may need to look at alternative revenue streams. One possibility is the company's energy business, which has been growing in recent years.



Overall, the announcement of the turnaround plan is likely to be a significant moment for Rolls-Royce. The company has struggled in recent years, but with a new CEO and a renewed focus on its core operations, there is hope that it can turn things around. However, the company still faces significant challenges, and it will take time to see if the plan is successful.