US Airways: Legacy carrier to LCC?

摘要

S&P's recent decision to downgrade US Airways' credit ratings is only the latest in series of challenges facing the struggling carrier. As a result, US Airways is in danger of losing some of its RJ financings because its corporate credit rating (CCC+) is now one notch below the minimum stipulated by its deal with GECAS. The downgrade was based on the "difficult challenge faced by US Airways as it seeks to rapidly lower its operating expenses in response to mounting pressure from low-cost competitors". S&P noted that failure to secure further substantial labour concessions over the next several quarters could force US Airways to undertake significant asset sales and/or file for bankruptcy a second time. As an indication of decreased confidence that US Airways would be able to reorganise successfully in a second Chapter 11 visit, the ratings on most of the company's EETCs were downgraded by more than one notch.