Aviation Debt Issuance Tops $10.5 Billion in Record First-Half Pace

Industry
โดย GuruFocus·Read original
Summary · why it matters

Aviation borrowers have raised more than $10.5 billion in debt year-to-date, the strongest first-half pace since 2021. Athens International Airport SA is making its debut in the euro bond market with a seven-year benchmark deal, while TAP Air Portugal is moving ahead with a 300 million five-year junk-rated bond. Many current deals appear tied to refinancing debt raised during the pandemic, with more than $22 billion, or 64% of debt sold in 2020 and 2021, carrying maturities of five to seven years. The market backdrop may be improving as oil prices drop and travel stocks recover, supported by a possible US-Iran peace deal and record jet fuel production by US and European refiners, according to the International Energy Agency.

Impact on stocks 2

Industrials▲ · 2 stocks
Air France-KLM SA
AF
▲ PositiveSupplyrelevance

Lower oil prices and record jet fuel production reduce fuel costs for airlines.

Deutsche Lufthansa AG
LHA
▲ PositiveSupplyrelevance

Lower oil prices and record jet fuel production reduce fuel costs for airlines.

Off-coverage companies 2

Athens International Airport SAPrivate▲ Positive
Capitalrelevance

Athens International Airport is making its debut in the euro bond market with a seven-year benchmark deal.

TAP Air PortugalPrivate▲ Positive
Capitalrelevance

TAP Air Portugal is moving ahead with a 300 million five-year junk-rated bond.

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