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An Iceland Volcano Is The Latest Airline Woe, Report Says Apr 10
Standard & Poors, April 2010
Abstract
NEW YORK (Standard & Poor's) April 20, 2010--The effects of recessions, terrorism, war, and epidemic disease have pummeled the airline industry over the past decade. We can now add to the list of calamities a volcano in Iceland, whose ash has prompted European authorities to ground most flights in that region. The effect is worst for European airlines, with a material, but much lesser, effect for U.S. airlines, according to a report titled, 'An Iceland Volcano Is The Latest Airline Industry Woe,' published earlier today. 'U.S. airlines are beginning to offer estimates of the financial damage, with Delta Air Lines Inc. (B/Negative/--) saying that it had lost an estimated $20 million through April 19 (about $5 million per day),' said...
Companies mentioned in this report are: Delta Air Lines Inc.
Action: General Comment
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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