Brief: Avtech Provides Business Update Regarding Covid-19

AVTECH Sweden AB (publ)

25/03/2020 10:04

March 25 (Reuters) - Avtech Sweden AB (publ)  AVTCHb.ST :
    * AVTECH PROVIDES A BUSINESS UPDATE REGARDING COVID-19
    * WE HAVE A PORTFOLIO OF PRODUCTS THAT ARE OF INTEREST TO
AIRLINES
IN TIMES OF ENVIRONMENTAL CONCERNS AND COST SAVINGS.
    * TARGET HAS BEEN FOR PROFLIGHT TO BE LAUNCHED COMMERCIALLY
AIMED
AT INDIVIDUAL PILOT USERS BY END OF MARCH.
    * DUE TO PRESENT COVID-19 SITUATION LAUNCH WILL NOW BE
DELAYED AT
LEAST ONE MONTH.
    * LARGE PART OF OUR REVENUE IS NOT AFFECTED IN SHORT TERM.
    * PREPARING REDUCTION IN WORKING HOURS WITHIN FRAMEWORK
PROVIDED
BY GOVERNMENT TO REDUCE STAFF COSTS AND BE ABLE TO RETAIN ALL
STAFF

Source text for Eikon:  ID:nWkr5FdNdN 
Further company coverage:  AVTCHb.ST 

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