Moody's views British Airways positively

Moody's Investors Service said it affirmed British Airways, plc's Ba2 corporate family rating and changed the outlook to positive from stable.

“British Airways continues to demonstrate a strong recovery, with passenger volumes in revenue passenger kilometers (RPK) reaching 88% of 2019 levels in the first quarter, driven by healthy leisure demand. The company has returned to positive operating profit of £14 million in Q1 2023 for the first time since Q1 2019. Booking trends are particularly positive, in regard to the North American network for which British Airways expects pre-pandemic levels of capacity by Q3,” the agency said in a press release.

Moody’s said it forecast the airline to boost its operating profit to about £1.35 billion and reduce Moody's adjusted gross debt/EBITDA to below 4.5x in 2023.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.