Published On: March 30th, 2021Categories: Trade Ideas
Re-opening prospects have driven strong demand for airline companies in the credit market, which are enjoying a decent performance year to date. While uncertainty remains with the vaccination progress balanced by concerns relating to new variants, 2019 levels will not be recovered until 2024 according to IATA and Eurocontrol.
We highlight the UK-based EasyJet (Baa3/BBB-), the second largest low-cost airline in Europe, whose investment grade rating has recently been affirmed.
We consider the low-cost carrier as being wellpositioned for a recovery in the sector.
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