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Industry Report Card: The Global Trading Slowdown Is Weighing On European Transportation Firms' Ratings Jul 09 Product Image

Industry Report Card: The Global Trading Slowdown Is Weighing On European Transportation Firms' Ratings Jul 09

  • ID: 1806961
  • July 2009
  • Region: Global, Europe
  • Standard & Poors

FEATURED COMPANIES

  • British Airways PLC
  • CEVA Group PLC
  • Deutsche Lufthansa AG
  • Deutsche Post AG
  • FirstGroup PLC
  • Logwin AG
  • MORE

Abstract
A sharp fall in transport trade volumes in the wake of the economic downturn has weakened the credit quality of rated European transportation companies over the past six months, in Standard & Poor's Ratings Services opinion. The outlook for the second half of 2009 appears bleak, with further rating deterioration likely. According to the International Air Transportation Association (IATA), airline passenger numbers on international markets were down 10% and passenger numbers overall were down 8% in the first quarter ended March 31, 2009. In logistics, air-freight volumes were down about 20%, according to IATA, and ocean container shipment fell by 16% in first-quarter 2009 year on year. In the shipping industry, the container segment has reported a 10-year low in...

Companies mentioned in this report are:
- Deutsche Lufthansa AG
- British Airways PLC
- Stena AB
- PostNL N.V.
- Stagecoach Group PLC
- Nobina AB
- FirstGroup PLC
- Deutsche Post AG
- Ship Finance International Ltd.
- Logwin AG
- CEVA Group PLC
- Navios Maritime Holdings Inc.
- SAS AB

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Note: Product cover images may vary from those shown

- Deutsche Lufthansa AG
- British Airways PLC
- Stena AB
- PostNL N.V.
- Stagecoach Group PLC
- Nobina AB
- FirstGroup PLC
- Deutsche Post AG
- Ship Finance International Ltd.
- Logwin AG
- CEVA Group PLC
- Navios Maritime Holdings Inc.
- SAS AB

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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