...Fitch expects Latin American airlines' credit quality to remain under pressure due to the weak macro and business environment in the region. The strength of the U.S. dollar relative to various currencies in Latin America also remains a concern. Operational performance should continue to reflect lower revenues, declining yields partially offset by lower fuel costs and limited improvement in operational performance during the balance of 2015. Adjusted financial leverage is expected to remain high and the leading airlines will continue to focus on cost control. Lowering capex to avoid negative FCF generation will be key to minimizing cash burn and negative rating actions. Positively, most of the leading airlines have adequate liquidity to face the challenging market conditions. This dashboard includes Fitch's forecasts for the top three regional players: LATAM Airlines Group S.A. (LATAM, BB¡/Stable); Avianca Holdings S.A. (AVH, BB¡/Negative) and GOL Linhas Aereas Inteligentes S.A. (GOL, B¡/...
