BAE provides financial update in light of COVID-19 crisis

BAE Systems has announced an update on company actions in light of the ongoing COVID-19 pandemic, the company said.

The Group has number of near-term priorities:
— Protect the wellbeing of employees
— Meet customer priorities and support them as they face unique challenges
— Support supply chain in dealing with pandemic related disruption
— Preserve and protect capabilities and the strength of the Group´s business which is underpinned by its GBP 45bn order backlog and programme positions
— Ensure liquidity and balance sheet strength and remain funded in anticipation of a potentially extended period of uncertainty.

The company said its proposed acquisitions of the Collins Aerospace Military Global Positioning System business and Raytheon´s Airborne Tactical Radios business are still expected to complete in the coming months. As previously announced, appropriate financing is already in place to enable completion.