Philippine Airlines weighs split A350, B787 order - report
Bloomberg reports Philippine Airlines is considering splitting a widebody order between Boeing and Airbus, with a potential firm purchase of about 10 B787s and 10 A350s, to be announced at the Farnborough Airshow in late July 2026. Philippine Airlines says no final decision is made. Separately, it priced a USD300m 5-year bond at a 7.75% coupon, oversubscribed 4.5x.
How this was made
The 30-second read
Why it matters
If the airline confirms a firm order at Farnborough, it could shift expectations for future fleet capacity and capex. Separately, the bond pricing and oversubscription provide a tangible credit/funding signal, but the text does not link it to immediate operational guidance.
Market read
Traders may watch for confirmation of the widebody order composition at Farnborough and for any follow-on disclosures around the bond settlement and use of proceeds.
What to watch
Bond oversubscription and coupon may reflect investor appetite for the guarantee structure, but without details on use of proceeds and group leverage, equity read-through is limited.
Background
The article combines a Bloomberg-sourced widebody order split plan (B787 vs A350) with a separate disclosed financing event: a USD300 million five-year bond priced by Philippine Airlines.
Ticker impact
Philippine Airlines is preparing a firm widebody order split between Boeing 787s and Airbus A350s, with timing tied to late-July Farnborough.
Near-term sentiment could improve on deal momentum, but uncertainty on final quantities and pricing limits directional conviction.
The article reports a Bloomberg-sourced plan for about ten B787s and ten A350s and a planned late-July announcement, yet explicitly notes no final decision and OEMs declined comment.
Philippine Airlines priced a USD300 million five-year senior unsecured guaranteed bond at a 7.75% coupon, with settlement expected July 16, 2026.
Limited immediate equity impact, but could support credit sentiment if investors view the coupon and oversubscription as favorable.
The text gives bond size, coupon, oversubscription, and settlement date, but does not provide a direct PR equity reaction or a clearly identified US-listed ticker for PAL Holdings/guarantor.
Market effects
Signals continued widebody demand in the Philippines/Asia-Pacific airline market, potentially influencing OEM order visibility and airline fleet planning expectations.
Could affect regional airline capacity planning and competitive dynamics if deliveries proceed as planned.
Adds to global Boeing-Airbus order flow narrative, though quantities and final terms remain uncertain.
Counterpoint
The aircraft order is not finalized, so the market may discount the story until a firm contract is signed and disclosed with pricing and delivery slots.
Key entities
- airlinePhilippine Airlines
Preparing a widebody order split between Boeing 787s and Airbus A350s; also priced a USD300 million five-year bond.
- OEMBoeing
Reportedly part of the planned firm order for about ten B787s.
- OEMAirbus
Reportedly part of the planned firm order for about ten A350s.
- parent/guarantorPAL Holdings
Referenced in the bond regulatory filing and quoted on the transaction purpose.
