May 11, 2020 / 4:57 PM / a month ago

BRIEF-Figeac Aero Provides Update On COVID-19 Impact

May 11 (Reuters) - FIGEAC AERO SARL:

* FIGEAC AERO ADAPTS TO HEALTH CRISIS

* IN FRANCE ACTIVITY AT ALL PRODUCTION SITES HAS GRADUALLY RESTARTED IN A RESPONSIBLE MANNER

* DUE TO CORONAVIRUS: PLAN TO REDUCE OPEX AND CAPEX

* ON CORONAVIRUS: IN NORTH AFRICAN COUNTRIES, GROUP CONTINUED TO OPERATE AT MORE THAN HALF OF ITS CAPACITIES EXCEPT IN TUNISIA WHICH HAS BEEN TEMPORARILY CLOSED FOR 2 WEEKS

* IN UNITED STATES, LESS AFFECTED BY GOVERNMENT MEASURES, WICHITA SITE OPERATED AT 40% OF CAPACITY WHILE MEXICAN SITE WAS SHUT DOWN FOR 5 WEEKS

* FOR 2019/20 FINANCIAL YEAR (ENDED MARCH 31, 2020), THE GROUP’S BUSINESS VOLUME WILL ALREADY BE IMPACTED AND SHOULD BE MORE CONSISTENT IN THE FOLLOWING YEAR

* ON COVID-19: IT IS DIFFICULT AT THIS STAGE TO QUANTIFY THE EFFECTS ON THE ACTIVITY IN THE IN THE COMING MONTHS OF FISCAL 2020/21

* IS CURRENTLY IN DISCUSSIONS WITH ITS BANKING PARTNERS AS PART OF ITS REQUEST FOR STATE GUARANTEED LOAN (PGE) Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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