The financial sting of this year was revealed in Rolls-Royce earnings Thursday (August 27).
The aero-engine maker - hit hard by a slump in travel - plunged to a record loss of over 7 billion dollars in the first half.
The British company will now try to raise money by selling assets.
Investors were spooked and shares dropped 9% in early trade.
The stock itself is down 66% overall this year.
2020's travel downturn has hit Rolls-Royce hard.
Particularly as the firm gets paid by airlines based on how many hours their engines fly.
Flying hours were down by three quarters from May to July.
Now Rolls-Royce plans to raise about 2.6 billion dollars inside 18 months.
As part of the plan it will sell Spain-based ITP Aero, which makes turbine blades for jet engines.
The group will also sell other assets, and consolidate its aerospace manufacturing facilities into six locations from 11.
Job cuts are also under way.
In May, Rolls-Royce announced 9,000 jobs would go.