Airline Bonds Fall as Europe Reintroduces Covid-19 Lockdown Restrictions

Airline bonds have been falling throughout the week following the re-introduction of Covid-19 restrictions in some European countries where cases have been rising. German airline Deutsche Lufthansa’s €750 million senior unsecured notes due 2025 are down over 0.5 points from Friday last week to 101.8 and its €850 million senior unsecured notes due 2028 have declined almost 1 point to 103.3. British Airways parent International Airlines Group’s €500 million senior unsecured notes due 2025 have contracted about 0.6 points to 100.4. This is an extract from the Europe Credit Daily, to subscribe to this intelligence request a trial here.