Rose, however, said Rolls civil aerospace earnings should start to grow again in 2003, largely because of the lucrative "after-sales" business which maintains, services and upgrades engines and provides a growing source of sales and profits.
Ten years ago Rolls supplied engines for four airframes, with 3,700 in service, but now provides them for 30, with 9,000 in use. Rose said the fact its engines in use were newer than many of its rivals' made the business more robust.
"We will have taken cost out of the business and will have a bigger and younger installed base," he said.
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