Gama Aviation delays FY results, suspends guidance
By Iain Gilbert
Date: Thursday 09 Apr 2020
(Sharecast News) - Aviation service provider Gama Aviation delayed publication of its full-year results on Thursday and suspended its 2020-21 guidance as a result of the ongoing Covid-19 pandemic.
Gama said it remained committed to publishing its annual audited accounts at "the earliest opportunity", whilst also ensuring that the work required was concluded diligently and comprehensively.
Given the disruption to the year-end process caused by the impact of Covid-19, Gama said it now expects to publish its annual audited accounts before the end of July 2020 and has also applied to AIM for an extension to its current reporting deadline of 30 June.
Chief executive Marwan Khalek said: "While we are undoubtedly facing significant challenges posed by the impact of Covid-19, Gama Aviation has a good level of liquidity and the group's resilient business model is supported by our essential contracted services and global reach.
"With the continuing support of our people, clients and shareholders, we believe we will be able to navigate these challenges and refocus on delivering sustainable returns once the impact of COVID-19 has receded."
As of 1125 BST, Game Aviation shares had slumped 5.88% to 32p.
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