OTHER NEWS - April 22, 1992

Seven Airlines Put on CreditWatch: As airlines wage a fare war that is expected to hand them huge losses this spring, a credit rating agency warned that even non-bankrupt carriers may find it harder to pay off debts. Standard & Poor’s Corp. put all seven non-bankrupt airlines on its CreditWatch list, saying in essence that it may place the bonds of some or all of them into higher-risk categories. They include American Airlines, United Airlines, Delta Air Lines, Northwest Airlines, USAir Group Inc., Southwest Airlines and Alaska Airlines. It is highly unusual for S&P; to raise questions about the future of all the players in an industry, but the airlines have been going through such a devastating financial period that the rater decided to take the action.