After a recent strong recovery, Rolls-Royce is looking to overcome a setback caused by a defect to one of its engines on a plane flown by Hong Kong's Cathay Pacific. The British company has seen its share price soar to record highs thanks to a turnaround in performance under chief executive Tufan Erginbilgic since he took the helm in early 2023.

Hong Kong aviation investigators say an engine problem that caused Cathay Pacific to ground its entire fleet of Airbus A350 jets for inspection earlier this month could have escalated into “extensive damage.

An engine fire on a Cathay Pacific Airbus A350 earlier this month was traced back to a fuel leak, which investigators believe could have resulted in significant damage to the aircraft.