High debt levels mean that aviation services provider John Menzies (LSE: MNZS) has decided to suspend its dividend given the uncertainty about global travel. The business is in much better shape, but the recovery will be held back by coronavirus.
Net debt was £391.9m at the end of 2019, nearly double the start of the year. However, that was down to the inclusion of lease liabilities in the total. That added £175.5m, so the underlying increase was £16.8m. There is headroom in the current facilities of £325m, which last until January 2025.
There was a cash inflow from operating activities ...
