Rolls-Royce plans to raise $6.5 billion to cope with a “worst-case scenario” amid the coronavirus crisis

On Thursday, Rolls-Royce Holdings (RR.L) said that it plans to raise 5 billion Pounds ($6.5 billion) to cope with a “worst-case scenario” as the weak global travel demand affected the company’s cash flow amid the coronavirus pandemic.

The British multinational engineering company stated that 2 billion worth of funds came from its shareholders.

“This is a comprehensive package which will take any liquidity questions off the table through this crisis. We wanted this package to provide sufficient headroom even through our worst-case scenario. We couldn’t really have done this much quicker,” Rolls-Royce Holdings’ Chief Executive Officer Warren East said in an interview.

Rolls-Royce’s shares fell by 8% to 119.6 pence at 09:36 GMT.

Rolls-Royce said that the company had already reached its lowest level since 2004.