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The Downdraft at Delta and US Air
Despite efforts to fix their financial crises, neither carrier could escape a ratings downgrade, as S&P's Phil Baggaley explains
With an eye for mounting debt and struggling labor talks, Standard & Poor's Ratings Services last week lowered its corporate credit ratings on Delta Air Lines (DAL ), the third-largest U.S. airline, and US Airways (UAIR ), the seventh-largest carrier, to reflect increased risks of bankruptcy or default.
BusinessWeek Online's Suzanne Robitaille corresponded with S&P credit analyst Phil Baggaley by e-mail about the carriers' persistent troubles and whether the rest of the industry could soon feel the burn. Here's an edited excerpt of their exchange:
Article
Jim
Despite efforts to fix their financial crises, neither carrier could escape a ratings downgrade, as S&P's Phil Baggaley explains
With an eye for mounting debt and struggling labor talks, Standard & Poor's Ratings Services last week lowered its corporate credit ratings on Delta Air Lines (DAL ), the third-largest U.S. airline, and US Airways (UAIR ), the seventh-largest carrier, to reflect increased risks of bankruptcy or default.
BusinessWeek Online's Suzanne Robitaille corresponded with S&P credit analyst Phil Baggaley by e-mail about the carriers' persistent troubles and whether the rest of the industry could soon feel the burn. Here's an edited excerpt of their exchange:
Article
Jim
