Fitch: Aeroflot unaffected

Fitch Ratings said the recent volcanic ash disruption is not expected to have materially affected the creditworthiness of OJSC Aeroflot, which has BB+ ratings and a stable outlook.

However, if the disruption reoccurs for a prolonged period, this could increase pressure on the overall airline industry, the agency said.

Unlike many European cities, which closed their airports for almost six days, airports in Russia stayed largely open, Fitch said.

Although many of Aeroflot's European routes were affected, including some of its most profitable routes such as London and Paris, the carrier was able to take off from Moscow and fly to other European cities that accepted flights, providing an alternative return route to many stranded passengers, the agency said.

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