Lucio Tan Jr. was appointed by his billionaire father as the new president of PAL Holdings, the parent company of Philippine Airlines, Tuesday.
Lucio “Bong” Tan Jr. succeeded Gilbert Santa Maria, as PAL Holdings president. Santa Maria will remain as Philippine Airlines president, PAL said.
Viviene, Bong’s sister, is the audit head of PAL. PAL Holdings is the holding company of PAL, the airline as listed on the Philippine Stock Exchange.
Last October 28, Santa Maria showed a 90-day report and turnaround plan for PAL during a board meeting. PAL said his presentation was “well received by members of the board and Chairman Lucio Tan.”
In July 2019, Lucio Tan named Santa Maria as the new president of PAL.
“I call on all PAL executives and staff to support Gilbert Santa Maria. Let’s work together and help him face PAL’s many challenges,” Tan said.
Philippine Airlines (PAL), a trading name of PAL Holdings, Inc. (PSE: PAL), also known historically (until 1970) as Philippine Air Lines, is the flag carrier of the Philippines. Headquartered at the PNB Financial Center in Pasay City, the airline was founded in 1941 and is the first and oldest commercial airline in Asia operating under its original name. Out of its hubs at Ninoy Aquino International Airport of Manila, Clark International Airport of Angeles, Mactan-Cebu International Airport of Cebu, and Francisco Bangoy International Airport of Davao, Philippine Airlines serves 31 destinations in the Philippines and 54 overseas destinations in Southeast Asia, East Asia, Middle East, Oceania, North America and Europe. Philippine Airlines operates a mixed fleet of Airbus and Boeing aircraft with Airbus A320, Airbus A321, Airbus A321neo, Airbus A330, Airbus A350, and Boeing 777-300ER.