Rolls-Royce Sells Stake in Refuelling Jets Unit AirTanker for $261 Million

By Reuters
Reuters
Reuters
September 13, 2021 Updated: September 13, 2021

LONDON—British engineering company Rolls-Royce said it agreed to sell its 23.1 percent stake in AirTanker Holdings, the owner of 14 A330 refuelling jets, for 189 million pounds ($261 million), in its latest disposal aimed at reducing debt.

The aero-engine maker wants to sell 2 billion pounds worth of assets to help repair its balance sheet after the pandemic.

Rolls said after the planned sale to Equitix Investment Management Limited, it would continue to be a 23.5 percent shareholder in AirTanker Services, which operates the 14 refuelling and transport jets that are mainly used by Britain’s Ministry of Defence.

AirTanker Holdings is a joint venture between Airbus, Babcock, and Thales.

($1 = 0.7234 pounds)

Reuters