Airlines and airports have raised a record $10.5 billion in debt this year. Athens International Airport entered the euro‑bond market with a seven‑year issue priced roughly 135 basis points above mid‑swaps. Goldman Sachs and Morgan Stanley coordinated the deal as Middle East tensions ease.

TAP Air Portugal is also adding to the wave, issuing a €300 million junk‑rated bond over five years. The Portuguese carrier is selling a 49.9 % stake, with 5 % earmarked for employees and the remainder to Air France‑KLM or Deutsche Lufthansa AG, pending approval.

The surge reflects a broader shift toward refinancing pandemic‑era debt, with more than $22 billion of the new issuance carrying five‑to‑seven‑year maturities. Falling oil prices and a rebound in travel stocks have buoyed investor sentiment, easing concerns about jet‑fuel supply ahead of summer.

These moves underscore how airlines are leveraging improved market conditions to shore up balance sheets and fund future growth amid lingering geopolitical uncertainty.