(CercleFinance.com) – The Group announces that it has reached an agreement with all of its financial partners, with a view to carrying out a set of inseparable operations leading to the financial restructuring of the Group, as part of a ad hoc mandate and under the aegis of the CIRI.
The group also indicates that all of the major cost reduction measures undertaken as part of its plan to optimize operations and secure long-term financial resources are bearing their first fruits.
‘ Indeed, revenue was up and operating margin was 9.7%, improving sequentially for two consecutive semesters and close to the double-digit target targeted at the end of the 2021 financial year/ 22 (as of March 31, 2022). Cash flow from operations is close to break-even and should, in accordance with the objectives given by the Company, be positive at the end of the current financial year,” indicates management.
‘ The Group’s level of activity in the first half of 2021/22 (up +30% LFL) confirms the recovery of the aeronautics sector, which is reflected in an increase in aircraft deliveries, new orders from airlines and the resumption of air traffic ‘adds the group.
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