Fitch has placed the Oz Receivables plc future - flow securitization on Rating Watch Negative. The deal is secured on ticket receivables from Asiana Airlines trans-Pacific routes. Asiana Airlines, a Korean company, has also been put on Rating Watch Negative.
A number of Asian airlines derive a significant portion of their income from flights to the United States. After the attacks in September, air travel to that country was disrupted for a number of days, which caused Asiana to lose about W5.4 billion ($4.15 million). Asiana derives 22% of its income from trans-Pacific routes.