Fitch has hiked British Airways' (BA) credit rating to 'BBB' from 'BBB-', citing the airline's consistently strong operational results and improved financial metrics. It maintains a stable outlook for the carrier. A 'BBB' rating denotes a "good" credit profile with a low risk of default, according to the agency's definitions. It is above speculative grade but below a "high quality" rating of 'A', with an even lower default risk. The upgrade reflects a significant improvement in BA's standalone credit profile, driven by robust financial performance in its latest annual results published on 28 February. Notably, strong earnings at the Oneworld carrier has enabled it to pay down debt, a factor behind a recent decision by S&P to also raise the company's credit profile. Fitch highlights that BA's EBITDAR leverage improved to 2.6x in 2024, and forecasts it will further decline to around 2x by 2027, supported by capacity expansion, resilient margins, and debt reduction. The agency notes that several key other factors that have contributed to the upgrade, including improved profitability and BA's transformation initiatives which have resulted in cost reductions, with margins having significantly increased in 2024. The airline's resilient yields, particularly on transatlantic routes, and ongoing cost-efficiency efforts have also played a crucial role. Fitch expects BA to invest approximately £6 billion over the next three years in fleet renewal and digital enhancements, largely funded by its own cash flow. Furthermore, BA's financial flexibility is improving, with growth in EBITDA leading to higher cash flow from operations. The airline has also resumed dividend distributions, reflecting its strong financial position. Meanwhile, BA benefits from the stronger consolidated credit profile of its parent IAG. The ratings agency considers BA's strategic importance to the group to be high, given its strong business profile and significant contribution to the group. Fitch's analysis also compared BA's business profile favourably to other major airlines, including Delta Air Lines, Lufthansa, and Air France-KLM, emphasizing BA's diversified route network and strong hub position at Heathrow. BA's stable outlook reflects Fitch's expectation of continued profitable growth and moderate leverage for BA, although it cautions that downside risks could arise from economic and geopolitical uncertainties.

Air Botswana is seeking bids for an ATR 42-500, having previously offered the turboprop for sale in 2022. The African carrier identifies the aircraft as MSN 507 and says it is selling it and associated inventory on an "as is, where is basis". Fleets data records the 1996-vintage turboprop as being retired. It was first owned and operated by Continental Airlines before being leased to Air Botswana by ATR in 2000 and then sold to the African carrier in 2003. Sealed bids for purchase need to be submitted by 25 April.

The Irish High Court has ruled that the suspension of a 32 million per-year passenger cap on Dublin airport should extend beyond the current summer season. In a judicial review brought by several airlines, including Aer Lingus and Ryanair plus several US carriers via the Airlines for America association, the court imposed an interim injunction until the results from a legal challenge on the issue, which has been referred to the courts on a European level, is concluded. A previous ruling blocked the Irish Aviation Authority (IAA) from implementing the cap until the legal process is concluded. The IAA said that it would take the passenger cap into account when deciding its slot allocation for the winter season. Ryanair, notably, argued during the challenge that it believes Dublin airport can accommodate many more passengers than it does currently. Responding positively to the ruling, the airline said that it would be enabled to add new routes and grow traffic at Dublin and called on the Irish government to scrap the cap entirely. "Irish airports must be treated as strategically important infrastructure and should be removed from the local planning process," says Ryanair group chief executive Michael O’Leary. "Dublin airport has opened a second runway, but the airlines can’t use it because of this illegal, 18-year-old, traffic cap. We should not have to waste time and money, going to the courts to do the government's work."