Fitch assigns PAL BB rating, stable outlook (opens original article in a new tab)

Fitch Ratings assigned Philippine Airlines (PAL) a BB issuer rating with a stable outlook, citing its market position, diversified network, and financial flexibility. The rating acknowledges PAL's leading role in the Philippine aviation market and its strategies despite some financial constraints.

• Fitch assigned PAL a BB rating with a stable outlook.
• PAL is the leading domestic carrier in the Philippines with 30% of the domestic market and 23% of international traffic.
• The rating considers PAL's diversified network, cost-efficiency, and fleet expansion strategy, despite EBITDAR fixed-charge coverage challenges.