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Article: Airline Finance News - North America.
- Article from:
- AirGuide Business
- Article date:
- September 28, 2009
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Sep 27, 2009
UBS upgraded five U.S. airlines including UAL Corp to "buy" from "neutral" and said that due to the recent flurry of capital raises, the balance sheets of these companies will be flush with new cash. "The rally in the US airline stocks and the appetite for airline secondary issuances has meant that more capital is available to the airlines than we modelled a quarter ago. Therefore near-term bankruptcy risk has diminished in our view," analyst Kevin Crissey wrote in a note to clients. The analyst also upgraded AMR Corp, Continental Airlines, Alaska Air and US Airways Group Inc. "Our top pick is UAL Corp as we believe it has the greatest leverage to ...