Industry Economic And Ratings Outlook: Most North American Transportation Companies Are On Stable Footing, But Oil Prices And Europe's Woes Pose Risks Jan 12
Standard & Poors, January 2012
Abstract
A recent modest pickup in U.S. economic growth has allowed most North American transportation companies to maintain fairly steady operating performance, which Standard & Poor's Ratings Services expects to continue into 2012. However, selected sectors such as shipping and heavy air freight are under greater pressure, and the potential for higher oil prices or fallout from European sovereign debt problems pose downside risks. North American transportation companies face varying degrees of economic risk. Well-diversified freight transportation companies, such as railroads and package express companies, experienced only moderate deterioration in the 2008-2009 recession and appear best positioned to withstand future turbulence, in our view. Highly competitive sectors that are burdened with excess capacity, such as oil tankers, some other shipping sectors,...
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Research Type: Commentary
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- AMR Corp.
- Alaska Airlines Inc.
- AMERCO
- American Airlines Inc.
- Atchison Topeka & Santa Fe Railway Co.
- Burlington Northern Inc.
- BNSF Railway Co.
- CSX Corp.
- Canadian National Railway Co.
- Canadian Pacific Ltd.
- Chesapeake & Ohio Railway Co.
- Chicago & North Western Railway Co.
- Con-way Inc.
- United Airlines Inc.
- Delta Air Lines Inc.
- Federal Express Corp.
- Florida East Coast Railway Corp.
- Hertz Corp.
- Hocking Valley Railway Co.
- Illinois Central Railroad Co.
- Kansas City Southern
- Kansas City Southern Railway Co.
- Louisville & Nashville Railroad Co.
- Midland Enterprises Inc.
- Missouri Pacific Railroad Co.
- Norfolk & Western Railway Co.
- Northern Pacific Railway Co.
- Northwest Airlines Inc.
- Ryder System Inc.
- Seaboard Systems Railroad Inc.
- Southern Pacific Transportation Co.
- Southern Railway Co.
- Southwest Airlines Co.
- Trans World Airlines Inc.
- Union Pacific Corp.
- Union Pacific Railroad Co.
- Union Tank Car Co.
- United Air Lines Inc.
- United Parcel Service of America Inc.
- US Airways Inc.
- Yellow Corp.
- Menlo Worldwide Forwarding Inc.
- Greyhound Lines Inc.
- US Airways Group Inc.
- American Commercial Lines Inc.
- Air Canada
- Alaska Air Group Inc.
- Southern Pacific Rail Corp.
- Arkansas Best Corp.
- America West Holdings Corp.
- Airborne Express Inc.
- Matson Navigation Co. Inc.
- Norfolk Southern Corp.
- CSX Transportation Inc.
- Xtra Corp.
- Sea-Land Service Inc.
- Consolidated Rail Corp.
- XTRA Inc.
- Circle International Group Inc.
- United Continental Holdings Inc.
- National Railroad Passenger Corp. (AMTRAK)
- Santa Fe Pacific Corp.
- Kirby Corp.
- Rollins Truck Leasing Corp.
- Norfolk Southern Railway Co.
- Laidlaw International Inc.
- Evergreen International Aviation Inc.
- J.B. Hunt Transport Services Inc.
- Enterprise Holdings Inc.
- Overseas Shipholding Group Inc.
- Cendant Corp.
- International Shipholding Corp.
- USF Corporation
- Yellow Freight System Inc.
- Trism Inc.
- Triton Container International Ltd.
- Alexander & Baldwin Inc.
- ERAC USA Finance LLC
- Wisconsin Central Transportation Corp.
- Triton Container Investments LLC
- Conrail Inc.
- Northwest Airlines Corp.
- Burlington Northern Santa Fe LLC
- ATA Holdings Corp.
- ATA Airlines Inc.
- Canadian Pacific Railway Co.
- AirTran Holdings Inc.
- Caliber System Inc.
- Nav Canada
- Atlantic Express Transportation Corp.
- Coach USA Inc.
- FLYi Inc.
- Halifax-Dartmouth Bridge Commission
- Kitty Hawk, Inc.
- First Wave Marine Inc.
- FedEx Corp.
- Aviation Sales Co.
- Canadian Airlines Corp.
- America West Airlines Inc.
- Fine Air Services Corp.
- Quality Distribution Inc.
- Budget Group Inc.
- American Commercial Lines LLC
- Strait Crossing Development Inc. (SCDI)
- Tower Air Inc.
- Midway Airlines Corp.
- Pacer International Inc.
- Avis Group Holdings Inc.
- 407 International Inc.
- Worldwide Flight Services Inc.
- North American Van Lines Inc.
- Societe de Transport de Montreal
- RailAmerica Inc.
- United Parcel Service Inc.
- ANC Rental Corp.
- Edmonton Regional Airports Authority
- CP Ships Ltd.
- Greater Toronto Airports Authority
- Aeroports de Montreal
- Vancouver International Airport Authority
- Airborne Inc.
- Roadway LLC
- Ottawa Macdonald Cartier International Airport Authority
- Blue Water Bridge Canada
- Kenan Advantage Group Inc.
- Horizon Lines LLC
- General Maritime Corp.
- JetBlue Airways Corp.
- Overnite Corp
- YRC Worldwide Inc.
- British Columbia Ferry Services Inc.
- Transport Industries Holdings L.P.
- Horizon Lines Holding Corp.
- Avis Budget Car Rental LLC
- Piedmont Hawthorne Holdings Inc.
- ACE Aviation Holdings Inc.
- Trailer Bridge Inc.
- Winnipeg Airports Authority Inc.
- Ozburn-Hessey Holding Co. LLC
- Horizon Lines Inc.
- Gainey Corp.
- Halifax International Airport Authority
- Atlantic Marine Holding Co.
- JHT Holdings Inc.
- Avis Budget Group Inc.
- Dollar Thrifty Automotive Group Inc.
- JHCI Acquisition Inc.
- Versacold International Corp.
- Halifax Port Authority
- US Xpress Enterprises Inc.
- Canadian Pacific Railway Ltd.
- Landmark FBO LLC
- Hertz Global Holdings Inc.
- Global Aviation Holdings Inc.
- United Maritime Group LLC
- Marquette Transportation Co. Holdings LLC
- RTL-Westcan Ltd. Partnership
- Western Express Inc.
- Vancouver Fraser Port Authority
- Allegiant Travel Co.
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