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

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)

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