June 22, 2020 / 7:03 AM / 12 days ago

John Menzies sees second-quarter to be ahead of expectations

(Reuters) - Airport services group John Menzies (MNZS.L) said on Monday trading in the second quarter was ahead of its own expectations, and the company had enough liquidity to support itself during the coronavirus crisis into 2021.

The UK-based company, which expects flight activity to recover from early-July, said its ground handling and fuelling activity slumped by three quarters during April and May as most airlines were grounded.

“We expect cargo revenues to continue to build back as customers employ more innovative measures to meet demand, such as using passenger aircraft for cargo only flights,” it said in a statement.

Shares in the company were seen rising more than 10%, according to premarket indicators.

Reporting by Yadarisa Shabong in Bengaluru; editing by Uttaresh.V

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