Moody's Investors Service outlook for Australian airports turns negative

Moody's Investors Service reported (02-Apr-2020) Australian airport revenues will decline materially in 2020 due to coronavirus related disruptions, namely the government led containment measures that have resulted in airlines cutting capacity. Moody's Investors Service reported passenger volumes will decline sharply in 2020, driving a material fall in revenues, and airports are aggressively implementing countermeasures to protect their credit profiles. Moody's expects a gradual recovery in revenues starting in 3Q2020, driven by supportive fiscal and monetary policy measure. Moody's is cautious about the pace of recovery as governments may retain travel restrictions and consumers may be wary of, or not have the financial capacity to return to pre-coronavirus levels of travel, however reported Australia's airports generally have adequate liquidity and are owned by well funded and well aligned investors with long term investment horizons. [more - original PR]