Volkswagen CFO Sees No Need for State Financial Aid -Boersen-Zeitung
27 März 2020 - 10:57AM
Dow Jones News
--Volkswagen's Head of Finance currently sees no reason to use
state financial aid that goes beyond short-time work compensation
to overcome the coronavirus crisis, financial publication
Boersen-Zeitung reports.
--Frank Witter said in an interview with the publication that
Volkswagen had built a good foundation in the 2019 financial year
and sees "a strong cash flow and a respectable net liquidity in the
automotive sector."
--Mr. Witter said Volkswagen "should have the strength to get
through the corona crisis" due to a "substantial network" of credit
lines, access to capital markets and deposits of over EUR30 billion
via VW Bank among other things, Boersen-Zeitung reports.
Full story (in German): https://bit.ly/2JhuVF7
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(END) Dow Jones Newswires
March 27, 2020 05:42 ET (09:42 GMT)
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