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Ailing Airlines Are Giving U.S. Airports Plenty To Worry About Jul 08
Standard & Poors, July 2008
Abstract
After several years of passenger growth that improved credit metrics and ratings, U.S. airport operators are flying into an uncertain future. Chief among their problems are instability among airlines resulting from energy price increases and a weak economy. In addition, long-term issues include possible regulatory changes, security, and the continual evolution of the modern airline business model. Indeed, except for growth in international traffic at key U.S. hubs, positive trends are difficult to come by as high jet fuel prices take their toll across the entire aviation industry. (Listen to the related podcast titled, 'How Slumping Air Carriers Could Spell Trouble For Airports,' dated Aug. 4, 2008.) Announced airline capacity cuts (with more likely to come) and fleet reductions, combined...
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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