Fitch stabilizes Turkish Airlines view

Fitch Ratings said it revised Turk Hava Yollari Anonim Ortakligi's (Turkish Airlines or THY) outlook to stable from negative and affirmed the airline's long-term foreign- and local-currency issuer default ratings at B. Simultaneously, the agency affirmed Turkish Airlines Bosphorus class A pass-through certificates series 2015-1A's long-term rating at BB.

“The outlook revision reflects the strong recovery of THY's performance, supported by rebounding passenger traffic on less stringent travel restrictions, a surge in cargo business and reducing demand volatility, which together decrease the likelihood of further deterioration in the airline's credit profile,” Fitch said in a press release.

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