Industry | 2014.07.25
Fitch: Airline Buybacks Present Incremental Credit Risk
NEW YORK--(BUSINESS WIRE)--New buyback programs in the Airline Industry could affect expected improvements in credit profiles if not managed prudently, according to Fitch Ratings. American Airlines (American [B+/Stable]) and United Airlines (United [B/Positive]) Thursday both announced plans to return cash to shareholders. We believe that if shareholder focused cash deployment should come at the expense of leverage reduction and healthy liquidity balances, expected improvements to the credit pr
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