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Author Topic: query on credit-rating  (Read 952 times)


  • Former member
query on credit-rating
« on: October 04, 2014, 07:40:06 PM »
I was away from the game for a while, since then there have been some changes, all good in my view and much welcomed : however, one thing I have noticed is that the credit-rating score seems much harder to improve these days : in my case, I'm not sure quite what is reqd now to improve it : my airline is profitable (about 30% profit margin after taxes), owns the greater portion of its planes (soon to be 100% owned), has no outstanding loans, a CI of 40+ (more than reqd for a domestic operation) : yet it stubbornly sits at CCC and has done so since day1 of operation some 3 game-years ago : In the past it has usually climbed a bit higher by this stage, so I was wondering why this has changed and. seemingly, been made more difficult to improve?

Offline Kadachiman

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Re: query on credit-rating
« Reply #1 on: October 04, 2014, 10:06:25 PM »
You may own planes but do you own goats and a drunken Sharman named Eddie.
You need the goats and Eddie to get a higher credit rating.


  • Former member
Re: query on credit-rating
« Reply #2 on: October 05, 2014, 02:48:54 AM »
Damn, knew I had forgotten something...  :-[


  • Former member
Re: query on credit-rating
« Reply #3 on: October 05, 2014, 11:57:10 AM »
The credit rating is to my opinion too much cash related. It is the amount of cash that is available and if the airline is able to cope with worst days to come. Also buying leased aircraft is expensive, even more expensive than just leasing until you order one and pay up front.


  • Former member
Re: query on credit-rating
« Reply #4 on: October 06, 2014, 10:33:38 AM »
I have since found an archived bug report on this issue in which Sami says it is not intended that smaller operations will ever reach AAA rating : which is fair enough, but surely it cant be intended that smaller operations, no matter how profitable, will never get better than a CCC rating either? Its a bit off as that's every-ones start point, with loads of debt, no routes, no slots, no income and no planes : I do fail to see why smaller operations should get to stay penalised with higher loan costs for their expansion needs : but hey ho, for now, I've managed to fund that domestic expansion from income; but any thought of expanding into future competition with my international traffic competitors does somewhat go out the window...

Online Sami

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    • AirwaySim - Are you the next Richard Branson?
Re: query on credit-rating
« Reply #5 on: October 06, 2014, 10:43:57 AM »
Things affecting credit rating are:

- 'Retained earnings / accumulated deficit' (= "value") ... NOT CASH!

- Airline age

- Image

Each of these items will score a value between 0 and 100 (value: max score at ~$500mil, age max at 6yo, image max at 100), and they are then added together with a formula of ((image*2)+(value*5)+(age*2))/90 to give the final score which turns into the rating (1 - 10). There are some other steps involved too, so it's not that simple but that's the basic structure.

(Any existing loans will then affect on the max loan amounts available)


  • Former member
Re: query on credit-rating
« Reply #6 on: October 06, 2014, 01:23:35 PM »
Thanks for the response, Sami :  now I can figure out what might be required : but first glance, I need to be that financially secure, I dont actually need the loan to start with... ROFL... so, yep, that is certainly how it seems to work in the real world too.

Time to look at renting some cheap old nasty Russian tin and giving my neighbours a scare, probably from then engines falling off as they pass over their shiny new Borings...

Offline schro

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Re: query on credit-rating
« Reply #7 on: October 06, 2014, 03:42:56 PM »

I've been watching credit ratings of sinking airlines for years and there does appear to be a cash component to the rating, but only to whether the airline has cash or not. It makes sense that it doesn't factor in to the ratings at a later stage (which is also consistent with your statements).

Basically, a AA/AAA rated airline will drop to B when they have no cash and spring right back when the cash goes positive.


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