March 6, 2020 / 9:47 PM / 24 days ago

BRIEF-Moody's Says Global Passenger Airlines Industry Outlook Revised To Negative From Stable

March 6 (Reuters) - Moody’s:

* MOODY’S SAYS GLOBAL PASSENGER AIRLINES INDUSTRY OUTLOOK REVISED TO NEGATIVE FROM STABLE

* MOODY’S - NEGATIVE OUTLOOK REFLECTS INCREASING RISK, PRESSURE TO AIRLINES’ OPERATING PROFITS & CASH GENERATION AS CORONAVIRUS OUTBREAK EXPANDS GLOBALLY

* MOODY’S SAYS ANTICIPATES A SHARP DECLINE IN PASSENGER DEMAND IN GLOBAL AIRLINES INDUSTRY THROUGH AT LEAST THE SECOND QUARTER OF 2020

* MOODY’S SAYS UNCERTAINTY AND SPEED OF OUTBREAK WILL PRESSURE AIRLINES’ OPERATING PROFITS & CASH GENERATION FOR AT LEAST FIRST HALF OF 2020

* MOODY’S SAYS OPERATING MARGIN OF GLOBAL PASSENGER AIRLINES INDUSTRY TO DECREASE FROM PRE-CORONAVIRUS EXPECTATION OF 9% TO LESS THAN 5% IN 2020

* MOODY’S SAYS EXPECT FURTHER CAPACITY REDUCTIONS IN GLOBAL PASSENGER AIRLINES INDUSTRY AS NUMBER OF INFECTED PEOPLE & AFFECTED COUNTRIES GROW

* MOODY’S SAYS WHILE THERE IS SIGNIFICANT LEVEL OF VARIABLE COST IN PASSENGER AIRLINES INDUSTRY, IT WILL NOT BE SUFFICIENT TO OFFSET REVENUE DECLINE Source text for Eikon:

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