European airports face the recession's ripple effects – S&P report
Ratings Agency Standard & Poor’s (S&P) has published one of its regular commentaries on European airports. In it, S&P maintains a cautious outlook for the sector. European airports performed more strongly than expected in the first nine months of the year. But Europe has since dipped further into recession and airline profitability is weakening – both of which point towards lower passenger volume growth. In S&P’s view, continued economic deterioration is a key risk to credit quality and could constrain improvement in credit metrics.
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