March 16, 2020 / 5:27 PM / 20 days ago

Fitch Ratings cuts outlook for aircraft lessors to 'negative' from 'stable'

March 16 (Reuters) - Fitch Ratings on Monday cut its sector outlook for aircraft lessors to “negative” from “stable”, citing elevated risks from the global spread of the coronavirus.

“The dramatic reduction in global travel demand is already increasing financial pressure on airlines, which Fitch expects will result in increased lease deferrals or restructurings, airline bankruptcies, and ultimately, aircraft repossessions,” the ratings agency said in a statement. (Reporting by Ankit Ajmera in Bengaluru, Editing by Sherry Jacob-Phillips)

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