March 17, 2020 / 10:53 AM / 22 days ago

BRIEF-Manchester Airport Group Cuts Capex To Mitigate Drop In Passenger Numbers

March 17 (Reuters) - Manchester Airport Group Funding:

* MANCHESTER AIRPORT GROUP FUNDING - FACES COVID-19 SITUATION WITH £395M OF AVAILABLE DEBT LIQUIDITY UNDRAWN AND NO DEBT REFINANCINGS DUE UNTIL 2023

* MANCHESTER AIRPORT GROUP FUNDING PLC - TAKING IMMEDIATE ACTIONS TO MITIGATE EFFECTS OF DROP IN PASSENGER NUMBERS BY REDUCING CAPEX, OPERATING COSTS

* MANCHESTER AIRPORT GROUP - EXPECT DEMAND TO RETURN AS COVID-19 PEAK PASSES, BUT DOWNTURN REQUIRES CO TO ACT NOW TO PROTECT POSITION Source text for Eikon:

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