Rolls-Royce needs jets in the air – and government on its side for the long haul

Strategic thinking is required after a hit to profits in the pandemic left the group vulnerable to US activist investors

Defence industry executives and analysts are starting to grow weary of interventions from across the Atlantic. Meggitt, Ultra Electronics and Senior have all been subject to various degrees of bid interest. Last week another front opened, as a large US investor signalled its belief that Rolls-Royce, the most blue-blooded of British industrial champions, is in need of fresh thinking" on its board.

Officials are already monitoring" the takeover bids, but the comments on Rolls-Royce from California-based investor Causeway Capital Management suggest the government should show that it has a long-term plan for UK industry.