<\/p>\n
PHILIPPINE AIRLINES (PAL) has received a BB issuer rating with a stable outlook from Fitch Rankings, reflecting the flag carrier\u2019s position within the Philippine aviation market, diversified route network and financial flexibility.<\/p>\n
\u201cPAL\u2019s rating reflects its leading market position within the domestic and international air passenger markets within the Philippines, where it’s the flag carrier,\u201d Fitch said in a press release on Thursday.<\/p>\n
The rating company said PAL\u2019s business profile is supported by its network diversification, business mix, operating efficiency and fleet expansion strategy.<\/p>\n
\u201cPAL\u2019s business profile is supported by its diversified network and business mix, stronger cost-efficiency as a hybrid airline with its sister company Air Philippines Corp. and prudent fleet expansion strategy,\u201d Fitch said.<\/p>\n
Fitch said PAL stays the one full-service domestic carrier within the Philippines, holding about 30% of the domestic passenger market and 23% of international passenger traffic to and from the country.<\/p>\n
The debt watcher added that PAL has maintained its market position despite capability and slot constraints at Ninoy Aquino International Airport.<\/p>\n
Fitch said the rating is constrained by weaker earnings before interest, taxes, depreciation, amortization and rent or restructuring costs (EBITDAR) fixed-charge coverage. Nonetheless, it noted that the airline\u2019s balance sheet and liquidity profile help support the rating.<\/p>\n
The assessment comes as PAL seeks to strengthen its international network and improve connectivity with overseas markets.<\/p>\n
Earlier this month, the airline joined the oneworld alliance, allowing it to supply passengers access to a broader network through partner carriers.<\/p>\n
For the primary quarter, PAL Holdings, Inc., the airline\u2019s parent company, posted attributable net income of P4.28 billion, down 1.15% from a 12 months earlier.<\/p>\n
Shares of PAL Holdings were unchanged at P3 each. \u2014 Ashley Erika O. Jose<\/b><\/p>\n<\/p><\/div>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
PHILIPPINEAIRLINES.COM PHILIPPINE AIRLINES (PAL) has received a BB issuer rating with a stable outlook from Fitch Rankings, reflecting the flag carrier\u2019s position within the Philippine aviation market, diversified route network and financial flexibility. \u201cPAL\u2019s rating reflects its leading market position within the domestic and international air passenger markets within the Philippines, where it’s the flag […]<\/p>\n","protected":false},"author":1,"featured_media":350441,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[52191,17744,3340,4280,897,7244],"class_list":["post-350440","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-assigns","tag-fitch","tag-outlook","tag-pal","tag-rating","tag-stable"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts\/350440","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/comments?post=350440"}],"version-history":[{"count":2,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts\/350440\/revisions"}],"predecessor-version":[{"id":350443,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts\/350440\/revisions\/350443"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/media\/350441"}],"wp:attachment":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/media?parent=350440"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/categories?post=350440"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/tags?post=350440"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}