Fitch revises One Sky view to positive

Fitch Ratings said it changed the outlook to positive from negative and affirmed One Sky Flight, LLC's long-term issuer default rating at B-.

“The outlook revision to positive from negative is driven by the company's outperformance relative to Fitch's initial concerns regarding the impact of the coronavirus pandemic when the ratings were downgraded in April. OneSky's position in private aviation has allowed it to perform much better than its commercial airline counterparts. The perception of private aviation as a safe alternative to commercial travel, along with exposure to high net worth clients less impacted by the economic disruptions, have allowed revenues and margins to hold up well,” the agency said in a press release.

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