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Leonardo CEO does not see governments injecting equity in aerospace groups to weather crisis

MILAN (Reuters) - The chief executive of defence group Leonardo LDOF.MI said on Wednesday he did not see the Italian or British governments injecting equity capital into large aerospace companies to tackle the coronavirus health crisis.

Speaking at a digital event organised by European Aerospace and Defence Association (ASD), Alessandro Profumo, who also serves as ASD Chairman, said that small and medium enterprises in the supply chain were the most vulnerable to the coronavirus, while large companies were more resilient.

Profumo said that the industry was counting on the support from both governments and the European Union to press on with digitalisation and green projects, but this would not imply a state intervention in the capital of large groups.

“Governments are, instead, pressing for small and medium enterprises to merge to become stronger,” he said.

Reporting by Francesca Landini; editing by Agnieszka Flak

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