Gama Aviation delivers 'solid trading performance' in H2

Aviation services group Gama Aviation said on Wednesday that it was currently enjoying "a solid trading performance" in the second half of the year.

Gama Aviation stated it was building on the "recovery, strong revenue growth and solid financial performance" reported in the first half of the trading year.

The AIM-listed group stated that whilst there had been "some variances" in performance across its business units, the firm's overall adjusted underlying earnings were anticipated to be in line with management expectations.

Gama added that it was currently progressing with negotiations to secure funds needed to repay a £20.0m term loan set to mature on 31 January.

"Whilst there can be no assurances that agreements to secure such funding will be finalised by the maturity date the board is confident that this will be the case," said Gama.

As of 1145 GMT, Gama Aviation shares had slumped 7.09% to 57.14p.

Reporting by Iain Gilbert at Sharecast.com