March 26, 2020 / 2:45 PM / in 15 days

Germany's MTU withdraws 2020 guidance in wake of the corona outbreak

FRANKFURT, March 26 (Reuters) - German aircraft engine maker MTU Aero Engines on Thursday said it would withdraw its guidance for 2020 in the wake of the coronavirus outbreak.

The announcement is the latest sign of stress in an industry hit hard by the crisis, affecting companies including Boeing , Airbus and airlines around the globe.

MTU, which had already said it would shut output in some European plants for three weeks, said that due to slower airline traffic, revenues and adjusted earnings would not grow as much as previously projected.

Updated forecasts “can be made only at a later point in time”, it said in a statement. (Reporting by Tom Sims, editing by Thomas Escritt)

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