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Bulletin: Delta Air Lines? Unsuccessful Alliance Bid For JAL Will Not Affect Ratings Feb 10
Standard & Poors, Feb 2010
Abstract
NEW YORK (Standard & Poor's) Feb. 9, 2010--Standard & Poor's Ratings Services today said that Delta Air Lines Inc.'s (B/Negative/--) unsuccessful bid for Japan Airlines Corp. (JAL; D/NM/--) to enter into a marketing alliance with Delta and its SkyTeam alliance partners will not affect the ratings on the company. On Feb. 9, 2010, JAL announced that it would remain in the oneworld alliance, which includes American Airlines Inc. (B-/Negative/--). We view this news as a modest negative for Delta, compared with the status quo. While Delta already has a substantial market share (estimated at 20%) in the key U.S.-Tokyo Narita market, we expect additional competition if the U.S. and Japanese governments approve antitrust immunity for other alliances. In December 2009,...
Companies mentioned in this report are: Delta Air Lines Inc.,American Airlines Inc.,Continental Airlines Inc.,United Air Lines Inc.,Japan Airlines Corp.
Action: Bulletin
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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