Cineworld on Tuesday delayed the reopening of its cinemas in the US and the UK until the end of July, noting that changes occurred regarding the release schedules for some of the big summer movies.
Hollywood studios have also pushed back the debut of new releases, with “Mulan” and “Tenet” for example now scheduled only for August.
Shares in Cineworld, which had lost almost three quarters of their value this year due to the coronavirus crisis, were trading up 2.8% by 0925 GMT.
The company is the world’s second largest cinema chain after AMC Entertainment (AMC.N) .
AMC has also pushed back its reopening date in the United States by two weeks to July 30, Reuters reported.
The crisis has forced cinemas across the world to close their doors after governments imposed lockdowns to prevent the spread of the pandemic.
Cineworld expects its cinemas to fill up to half capacity when they reopen.
The company, which has 7,178 of its 9,500 screens in the United States, made more than two-thirds of its overall revenue from the region last year.
