Airlines: Ratings Navigator Companion

...Sector and Sub-Sectors: This report presents the key peer comparator elements observed or expected for airline companies. The report covers passenger airlines globally, reflective of the global nature of the industry. Segments within the industry include traditional network and low cost carriers (LCC). Key Factors: The Sector Risk Profile defines and groups companies operating in the sector into a "natural rating territory" based on Fitch Ratings' view of the industry's inherent risk profile. Each company's overall risk profile generally does not stray too far from this rating range. After assessing the Operating Environment, then Management and Corporate Governance, the Navigator examines four Sector-Specific factors for given rating levels. Finally, three Financial Profile factors help capture financial attributes commensurate with particular rating categories....

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