Rolls-Royce Holdings stock hits 17-year low as slump deepens for airlines

Rolls-Royce Holdings Plc fell to its lowest in 17 years after detailing a plan to raise as much as 2.5 billion pounds ($3.2 billion) to brace against a drought in demand for aircraft engines.
 
Shares of the U.K. company slid for a fifth straight session on Monday, dropping as much as 12% after saying two days earlier it’s reviewing options including a rights issue, other forms of equity and new debt.Rolls-Royce has lost more than three-quarters of its value this year amid a broad industry downturn triggered by the coronavirus pandemic.
 
The company has been particularly hard hit