GC Asia
Rating agencies warn on challenging year for aircraft ABS
The aircraft securitization market is showing cracks after enjoying three consecutive record years of issuance. Major airlines have gone bankrupt, credit is deteriorating and competition intensifying, all of which signals 2020 as a year of major headwinds, rating agencies say.
Seven large airline companies went bankrupt in 2019, including Jet Airways, Aigle Azur, Thomas Cook and Adira Airways. That's not including a dozen or so smaller companies that also filed for bankruptcy last year. Though a slight decrease from 2018, when 30 airlines went bankrupt, the figure is
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