May 12, 2020 / 6:02 AM / 21 days ago

Plane parts maker FACC sees significant production restrictions until year-end

VIENNA, May 12 (Reuters) - Plane parts maker FACC said it expects significant demand and production restrictions in the first half of 2020 and the full year as the coronavirus pandemic forced plane makers to pause production to adjust to lockdowns and cut future output due to lower demand from airlines.

FACC reported earnings before interest and tax (EBIT) of 13 million euros ($14.06 million) for the first quarter after write-downs due to Airbus’s production stop of the A380 led to a loss in last year’s reference period.

The group, owned by China’s Aviation Industry Corporation (AVIC), said it was not possible to make a solid and reliable forecast for the full year. ($1 = 0.9248 euros) (Reporting by Kirsti Knolle Editing by Michelle Martin)

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