(Alliance News) - Porto Aviation Group Spa announced Friday that it will kick off its ERU300,000 buyback program, which has already been approved by shareholders.

The company aims to buy back no more than 35,000 of its own ordinary shares between July 1 and no later than October 5, 2025.

In addition, the company let it be known that it will no longer carry out the consolidation of the financial statements of its investee Aerotec Composites doo the first six months of this year, due to insignificance. In fact, the investee operates on an exclusive basis with Porto Aviation Group and has no material impact.

Porto Aviation Group's stock closed Friday unchanged at EUR4.20 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.