Lucy Powell comments on Rolls-Royce’s worse-than-expected £4 billion annual loss

“The UK’s aerospace industry is operating on a wing and a prayer as a result of the Government’s failure to back British businesses with the targeted support they need.

“With aviation levels not expected to reach their 2019 peak for years, and the French and German Governments pumping billions into their aerospace industries, it is vital that Ministers take action to avert the tailspin the industry is in.

“We need action now to protect jobs and boost aerospace businesses through a green economic recovery, including bringing forward investment in the Aerospace Technology Institute, the route to Jet Zero being more than bluster, and an international plan to restart aviation when public health allows.”