Rocket builder Avio: Covid is opening up M&A possibilities; that’s what our share buyback is all about

by Peter B. de Selding

PARIS — European rocket builder Avio SpA reported an 11% decline in revenue but increased profit for the six months ending June 30 compared to a year ago as the Covid-19 pandemic forced it to delay work with its supply chain and focus on its own, higher-margin activities.

Avio Chief Executive Giulio Ranzo said the company’s forecast for the coming months is highly sensitive to Covid evolutions, which in 2020 shut down Europe’s Guiana Space Center spaceport.

Covid’s effects are also . . .

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