⁍ Rolls-Royce RR.L plans to raise a total of 5 billion pounds ($6.5 billion), including 2 billion from shareholders.

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⁍ Airlines pay Rolls based on how many hours its engines fly in their larger jets.

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⁍ Rolls’s debt will jump to over 3.5 billion pounds this year from 993 million pounds last year.

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– The H1N1 virus is taking a heavy toll on British engine-maker Rolls-Royce, which says it will need to raise $6.5 billion to stay afloat. The company says it will sell 2 billion shares in a discounted rights issue to shore up its finances, Reuters reports. The company’s share price has dived 80% this year. Rolls-Royce, which makes engines for Boeing 787s and Airbus 350s, says it will cut 9,000 jobs as a result of the virus, which has hit long-haul travel hard. “This is a comprehensive package which will take any liquidity questions off the table through this crisis,” the company’s CEO says. “We wanted this package to provide sufficient headroom even through our worst case scenario.” The company’s shares were down 11% to 116 pence at 1118 GMT, their lowest level since 2004, after it said that it would raise about 2 billion pounds through a 10 for 3 discounted rights issue. This was fully underwritten at 32 pence per share, a 41% discount to the theoretical ex-rights price. Analysts calculated that the raise is coming at a deeper discount than expected. “The raise is coming at a deeper discount than expected,’ an analyst calculated at 54.6 pence. Rolls also said it had commitments for a new two-year loan facility. Yields on Rolls’ bonds edged off their highs, with a 5.93%, well off this week’s high of 5.25%. The new debt follows a plan announced in August to raise at least 2 billion pounds from the sale of its Spain-based turbine blade maker ITP turbine blade maker ITP.