LONDON—UK-based aviation consultancy firm IBA has warned of higher market risk, after 81 of over 120 airlines that the company monitors for financial performance reported lower EBITDAR margins for 2018. “In summary, the airline industry appears to be more volatile,” IBA said in its six-monthly Operator Score Index update, released Aug. 15. The IBA index gives airlines credit scores, based on their financial health, operational efficiency, access to capital, jurisdictional ...

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