Rolls-Royce Shares Rebound After Cathay Pacific Cancels Flights Over Engine Issues

Rolls-Royce shares rose on Tuesday, recovering some losses from Monday after Cathay Pacific canceled flights due to technical issues with Rolls-Royce's engines. The problem was identified in fifteen Airbus aircraft, leading to the cancellation of nearly forty flights. Cathay Pacific and Rolls-Royce are investigating the issue, with repairs expected to be completed by Sept. 7th. Rolls-Royce's share price struggled during the pandemic due to supply chain issues and reduced aviation demand but surged over 220% in 2023 following a successful restructuring and efficiency program.