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II cover story Jul_Aug 2020
With the coronavirus grounding air travel to a halt and the industry bracing itself for prolonged disruption, we investigate what investors are doing to make these assets return to good health.
‘We believe visibility and confidence in the recovery are unlikely before the end of 2020’, S&P Global Ratings said.
Long a favourite asset of infra investors, airports' risk profile suddenly changed with the onset of the coronavirus, suffering more than 90% drops in traffic in April.
Airport
S&P Global Ratings says it does anticipate secular change in the aviation sector but that consumer confidence will take some time to return.
The move comes despite announcements from British Airways and Virgin Atlantic on a suspension of activities at the London site.
The bill to privatise the French airport operator is unlikely to return even in the event of an economic turnaround.
Global air travel will not reset until Q1 or Q2 of 2021, the group said in a report.
The UK government has decided to assess financial support for airports during covid-19 on a case-by-case basis, rather than providing a wholesale support package.
Airports in Australia have been hit hard by coronavirus, just as in almost every other country. How bad is the situation and what will Australian asset managers do to mitigate the impact?
The financial impact of coronavirus on infrastructure assets may yet prove to be much wider and deeper than during past stresses, Fitch Ratings' Seth Lehman says.
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