Proactive Investors - Rolls-Royce Holdings PLC (LON:RR) was among the engine manufacturers to enjoy a 'positive' February, as recovering demand in China prompted stronger traffic for wide-bodied aircraft, CitiGroup analysts said.
“ General Electric (NYSE:GE), Rolls-Royce and Pratt & Whitney’s engine cycles were all up over the month,” according to Citi’s air flights tracker, marking good news for the manufacturers which are paid based on flight times.
Rolls-Royce supplies engines for various wide-body jets, including the Boeing (NYSE:BA) 777, 787 and Airbus A330 and A380, which all saw an uptick in flight times in February.
It does not offer engines for narrow body jets, such as the 737 and A320, though Citi noted flying hours were relatively flat for these during the month, mainly affecting CFM International and Pratt & Whitney.
P&W’s engine cycles hit 2019 levels in February, Citi added, marking a return to pre-pandemic trends, though CFM’s particularly high exposure to China means it still sits 3% below.
Rolls-Royce shares rose 1% to 144.8p in Monday trading.