Credit rating agency Standard & Poor's said yesterday it may cut its ratings for 11 airlines because a US-Iraq war looks imminent.
Nine US airlines, including three of the five largest, as well as European carriers British Airways Plc and Deutsche Lufthansa AG are covered by the review.
S&P said it might cut British Airways to "junk" status.
"Airlines, already battered by the effects of the September 11th attacks and their aftermath, now face further financial damage from a war," said S&P analyst Mr Philip Baggaley.
S&P said it might cut its ratings on AirTran Holdings, Alaska Air Group, America West Holdings Corporation, ATA Holdings, Atlantic Coast Airlines Holdings, British Airways, Continental Airlines, Delta Air Lines, Lufthansa, Northwest Airlines and Southwest Airlines. British Airways, Lufthansa and Southwest carry "investment grade" ratings, while the other carriers are "junk" rated.
- (Financial Times Service)
