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The boss of Rolls-Royce has said he is confident the company has a “sustainable future” and will emerge from the pandemic a “more resilient” business.

Warren East, who is stepping down from the aerospace firm later this year, is set to address shareholders at the company’s annual general meeting on Thursday (May 12).

“As a result of the actions we have taken, we have made significant progress on the path to recovery from the impact of Covid-19 and are emerging as a better balanced and more resilient business,” Mr East said.

The aerospace firm, which has º£½ÇÊÓƵ bases in Derby and Filton, near Bristol, said it expected “positive momentum” in its financial performance in 2022, despite macroeconomic uncertainties.

In February, The company swung back into the black , with profits of £124m - up from a £3.1bn loss a year earlier.

Rolls-Royce has cut nearly 9,000 jobs from its global workforce since the pandemic hit. It has also already announced plans to sell off four of its ancillary businesses - two of which were sold in 2021. The sales are expected to generate around £2bn for the company.

In its latest trading update, announced on Thursday, Rolls-Royce confirmed it was working closely with its supply chain to limit the impact of disruption caused by global uncertainties such as the war in Ukraine. Around 20% of the company’s titanium supplies come from Russia, but the engineering firm has been stockpiling for months in preparation.

In its civil aerospace business, Rolls-Royce said engine flying hours for the first four months of 2022 were 42% higher than the year before. The company said passenger demand for flying was recovering on routes where travel restrictions have been lifted, such as in Europe and the Americas, but additional Covid-19 restrictions had resulted in fewer flights in China where the situation was still evolving. The engineering firm said it was “continuing to capitalise” on new opportunities in 2022.