STOCKS TO WATCH: Rolls-Royce in Helicopter Row with Provine

STOCKS TO WATCH: Rolls-Royce reverses into helicopter lane with Provine during 2019 crash


After a fall in its share price, Rolls-Royce was once again ravaged by the pandemic last week as the engine maker’s airline customers faced new Covid travel restrictions.

Another headache occurred in the US, where aircraft supplier Provine Helicopter Service is seeking damages after a crash in 2019.

A Bell Jet Ranger on an agricultural sprayer mission in Texas lost power after takeoff and made an emergency landing.

Bird’s eye view: A Bell Jet Ranger lost power after takeoff and made an emergency landing

Lawsuits filed in Greenville, Mississippi, seen by The Mail on Sunday, allege the crash was due to a defective compressor wheel supplied by Rolls-Royce that broke after takeoff.

Provine claims the helicopter was “minimally used” and that Rolls “should have been aware of this latent defect” and issued a warning or recall.

“Provin e is claiming damages and consequential damages,” it adds.

It’s one to watch for chief executive Warren East and new chairman Anita Frew, who have been busy exploring investors since facing public criticism from investor Causeway Capital.

Rolls-Royce declined to comment. Provine could not be reached.

Peter Levine goes green

Oilman Peter Levine goes green. The President Energy boss is listing a venture to produce hydrogen and ammonia in Paraguay and Iceland, listing it on AIM next month.

Existing President investors will receive shares in the company, called Atome, through a placement that aims to raise £9 million.

Own goal for Train

Nick Train can be forgiven for missing the footy this weekend.

The fund star’s vehicles are invested in both Manchester Utd and Juventus.

No sooner were shares erased from Ole Gunnar Solskjaer’s resignation than the Turin club’s shares fell after a £340m cash call.

Hester ‘officially’ joins easyJet

Former RBS boss Stephen Hester formally joins easyJet as chairman on Wednesday, as the Omicron Covid variant is panicking investors.

Analysts expect an annual loss of £1.1bn, but are hoping for at least a small gain next year.

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