Rolls-Royce, under CEO Tufan Erginbilgiç, has experienced a remarkable turnaround, boosting profits with a strategic financial approach and a post-pandemic travel boom.

The company is rewarding employees with 150 shares each, valued at over £700, to recognize their contributions. This marks the first time Rolls-Royce has given shares to employees, reflecting their crucial role in the company’s recovery from the pandemic lows.

Rolls-Royce’s stock has risen 112% in the past year, and the share program will cost the company an estimated £30 million. Employees in the U.K. must hold the shares for three years before selling, with tax exemptions after five years.

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Rolls-Royce CEO, Tufan Erginbilgiç, praised employees’ efforts and announced the share distribution.

Business is thriving for the London-listed company, which plans to pay dividends again for the first time since the pandemic. Erginbilgiç’s leadership involved streamlining operations, cutting costs, and renegotiating high-return engine contracts, leading to a fivefold profit increase in the first half of 2023 and doubled profits for the year.

The resurgence was bolstered by increasing travel demand and easing supply chain issues. Rolls-Royce has also secured lucrative deals, such as a $20 billion contract with Turkish Airlines and Airbus.

The company recently published strong first-half results, raising its 2024 profit and cash flow forecasts, placing it ahead of its financial goals for 2027. Rolls-Royce’s civil aerospace, defense, and power system divisions have all benefited from increased activity and flying hours, leading to an operating margin increase to 14% from 9.7% the previous year.

Despite ongoing supply chain challenges shared by other aviation companies, Rolls-Royce continues to thrive. “Our transformation into a high-performing, competitive, resilient, and growing business is proceeding with pace and intensity,” Erginbilgiç stated in the earnings announcement.