Moody's investment rating agency is to review the ratings of GPA's long term debt after the group's successful $4.05 billion (£2.57 billion) fund raising. Signalling possible upgrades of the ratings, Moody's noted that successful sale of bonds to investors would allow GPA to reduce its balance sheet debt to $1.5 billion.

"The reduction of GPA's debt obligations and a more manageable debt maturity will allow the company to focus on its core operations," according to Moody's.

Its review will focus on the evaluation of GPA's remaining portfolio of 53 leased in and 71 owned aircraft as well as on management strategies for the future.