News
Philippine Airlines given first time credit rating by Fitch Ratings
June 17th 2026
Philippine Airlines (PAL) has been given a credit rating by Fitch Ratings for the first time in recognition of the company’s improved financial position following a corporate restructuring. Read More » Fitch Ratings has assigned PAL a "BB" long-term issue default rating with a stable outlook. "The company has a record of discipline strategy after its Chapter 11 restructuring in 2021," Fitch Ratings said. "We expect PAL to maintain revenue and cost discipline over the near term with prudent fleet expansion. It intends to expand its current fleet of 82 aircraft by 25% over the next four years." PAL CEO, Richard Nuttall, welcomed the Fitch Ratings assessment, adding it reflected the progress the airline has made in strengthening its business, financial and operational fundamentals. "We remain focused on maintaining financial prudence while delivering world-class excellence and elevating the experience we provide to our customers at every stage of their journey," Nuttall said.
