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Strong Traffic Growth Leads To Stable Credit Quality For Europe's Airport Operators Sep 05 Product Image

Strong Traffic Growth Leads To Stable Credit Quality For Europe's Airport Operators Sep 05

  • ID: 1722517
  • September 2005
  • Region: Europe
  • Standard & Poors

FEATURED COMPANIES

  • Aeroporti di Roma SpA
  • Aeroports de Paris
  • BAA Ltd.
  • British Airways PLC
  • Copenhagen Airports A/S
  • Deutsche Lufthansa AG
  • MORE

Abstract
The credit quality of European airport operators has shown stability in 2005 thanks to positive traffic growth trends and sound operating performance. After an impressive performance in 2004, passenger growth continued in the first half of 2005, with some rated airports still recording double-digit increases. Growth continues to be strong and mostly driven by intra-European traffic. Furthermore, the expansion of low-cost airlines into EU countries in Central and Eastern Europe and strong growth in the Far East routes should maintain strong growth in the region in the near future. Strong passenger performance has driven financial results in line with forecasts. Credit metrics improved for most airports except for BAA PLC (A+/Stable/A-1+) and Aeroports de Paris (AdP; AA/Negative/--), which are still...

Companies mentioned in this report are:
- BAA Ltd.
- Deutsche Lufthansa AG
- Aeroports de Paris
- N.V. Luchthaven Schiphol
- British Airways PLC
- DFS Deutsche Flugsicherung GmbH
- City Aviation Finance Ltd.
- Dublin Airport Authority PLC
- Birmingham Airport Holdings Ltd.
- Aeroporti di Roma SpA
- Gate Gourmet Borrower LLC
- Flughafen READ MORE >

- BAA Ltd.
- Deutsche Lufthansa AG
- Aeroports de Paris
- N.V. Luchthaven Schiphol
- British Airways PLC
- DFS Deutsche Flugsicherung GmbH
- City Aviation Finance Ltd.
- Dublin Airport Authority PLC
- Birmingham Airport Holdings Ltd.
- Aeroporti di Roma SpA
- Gate Gourmet Borrower LLC
- Flughafen Zurich AG
- Copenhagen Airports A/S
- The Brussels Airport Co.
- The Manchester Airport Group PLC

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