No impact to Southwest or United ratings from Harvey: S&P

S&P Global does not foresee any impact to the ratings of Southwest Airlines or United Airlines from Hurricane Harvey. In an Aug 31 report, S&P indicates that while it expects earnings at both Southwest and United to take a hit from the storm – which closed both Houston Hobby and Houston Intercontinental for at least 4 days after hitting the South Texas coast overnight Aug 25 – it is not predicting a rating downgrade in result. United will feel the biggest impact as Intercontinental is its second-largest hub, the ratings agency says. The airport is a large connecting complex for the carrier, with roughly two-thirds of United's passengers there transiting. "United can, to some extent, reroute passengers or flights, but it will be difficult given already-full flights and the upcoming holiday weekend," says S&P. <br/>