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BBA Aviation Cash Generative in Downturn - Interview With CEO

Dépèche transmise le 25 février 2010 par PRNewswire

LONDON, February 25, 2010 /PRNewswire/ -- BBA Aviation, the flight support and aftermarket services company, said there were preliminary indications that it was through the worst of the market downturn as it announced "pleasing" revenues of GBP1.08bn for the full year, down just 7 per cent.

A focus on cash generation in 2009 had resulted in free cash flow of GBP137.5m, up 78 per cent, with net debt reduced by GBP162.8m to GBP391.6m.

The company said its Signature division returned to modest organic growth in the last quarter of 2009, but stressed the "nature and the profile" of the recovery remains unclear.

In a video interview with broadcaster , Simon Pryce, Chief Executive, said:

"We certainly seem to be reaching the bottom of this cycle, with Signature beginning to see a pick-up in general aviation movements and flying hours in the last quarter of this year, and that's continued in the first few weeks of 2010. There is some hope that a recovery is, if not here now, on its way. As we enter a recovery phase, I think the business is well-positioned to take advantage of that recovery and to see a very good pick-up in organic and cyclical recovery growth."

The interview and transcript are available now on .

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