- Aviation company Avation walked away from plans to sell the company and terminated its strategic review amid coronavirus-led disruptions in the industry.

The company said it had decided to terminate the strategic review and formal sale process and confirmed that it was no longer in active discussions with any interested parties amid ongoing Covid-19 disruptions to business activities, particularly air travel, on an unprecedented scale.

In light of this ongoing disruption, the formal sale process was unlikely to 'produce an outcome that accurately reflects the long-term value of the company and at a value that is attractive to shareholders,' it added.

At 10:08am: [LON:AVAP] Avation Plc share price was -6p at 174p

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