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Rolls-Royce revises down 2021 engine flying forecasts

LONDON, Jan 26 (Reuters) - Britain’s Rolls-Royce revised down its forecasts for 2021 on Tuesday saying that it now expected aeroplane flying hours to be about 55% of 2019 levels this year, compared to a previous base case forecast of 70% given last October.

The company said that less flying would mean it loses more cash, and it was now expecting free cash outflow of 2 billion pounds ($2.7 billion) for 2021, but stuck by its forecast to turn cash flow positive at some point during the second half of the year.

$1 = 0.7332 pounds Reporting by Sarah Young; editing by James Davey

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