Fitch Confirms LanChile's Investment Grade Credit Rating and Improves Outlook to Stable.Business Editors SANTIAGO, Chile--(BUSINESS WIRE)--March 11, 2004 LanChile S.A. ("LanChile" or "the Company") (NYSE NYSE See: New York Stock Exchange :LFL LFL Lower Flammable Limit LFL Lutherans for Life LFL Lingerie Football League LFL Like for Like (comparison of sales) LFL Libertarians for Life LFL Lucasfilm Limited LFL Lot for Lot LFL Looking for Love ), Chile's largest domestic and international passenger and air cargo air cargo: see aviation. carrier, announced today that Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. ("Fitch") reaffirmed the Company's investment grade rating of "BBB-" and improved the outlook for this rating to "stable". LanChile is one of the few airlines in the world that has an investment grade credit rating. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Fitch, LanChile's investment grade rating is based on its ability to maintain profitability while operating in an extremely challenging environment. Fitch highlighted LanChile's ability to manage capacity, costs and aircraft utilization Average numbers of hours during each 24-hour period that an aircraft is actually in flight. as well as its effective business model, fleet flexibility, solid financial profile, strong liquidity, and improved credit protection measures. Alejandro De la Fuente De La Fuente is a common surname in the Spanish language meaning of the Source
LanChile S.A. is the largest domestic and international passenger/cargo air carrier in Chile and one of the leading airlines in Latin America. Together with its code-share arrangements and affiliated airlines, the Company serves 15 destinations in Chile, seven destinations in Peru, two in Ecuador, 18 destinations in Latin America, 25 in North America, ten destinations in Europe and four in the South Pacific. Currently, the Company operates 48 passenger aircraft and seven dedicated freighters. LanChile is a member of oneworld (TM), the most international of the global airline alliances. It has bilateral commercial agreements with oneworld partners American Airlines, British Airways, Iberia and Qantas and also with Alaska Airlines, AeroMexico, TAM and Lufthansa Cargo. For more information visit www.lanchile.com or www.oneworldalliance.com. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion