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Signature Aviation H1 Continuing LFL Revenue Down 31% - Quick Facts

Signature Aviation plc reported that its continuing Group like-for-like revenue for the first 6 months was down 31% year over year solely due to the impact of COVID19. The Group remained net cash flow positive in the second quarter.

Mark Johnstone, Signature Aviation CEO commented "Since our AGM statement in mid-May, flight activity across our global network has continued to show an encouraging recovery and, in the US, with the support of the CARES Act, we have now called back all our furloughed staff. Finally, and as a precautionary measure given the macroeconomic uncertainties, we have secured a covenant waiver from our relationship banks for December 2020 and June 2021."

Flying activity was down by an average of 32% for the month of June in the US, compared to an average of 77% down in April.

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