Three months after Lucio Tan III took the helm as president of PAL Holdings Inc. (PHI), the parent company of the country’s premier flag carrier Philippine Airlines (PAL), he reinstated key management positions in a swift move to build a corporate structure that strengthens the airline’s leadership team, amidst a highly competitive aviation market environment.
In a disclosure to the Philippine Stock Exchange, PHI reported that the Board of Directors of its operating subsidiary PAL has approved the reinstatement of the positions of Chief Commercial Officer (CCO) and Executive Vice President as part of plans to professionalize the organization.
PHI said the PAL Board has confirmed the appointment of Eric David Anderson as CCO with the rank of Senior Vice President. A CCO would help bring synergy and strategic focus to PAL’s commercial departments.
The firm has yet to name PAL’s Executive Vice President who will report to the President and Chief Operating Officer to ensure that the PAL operations are carried out in accordance with the business plan of the company.
Tan assumed the position of president for PHI in May 2023. He quickly build up a corporate structure that strengthens the airline’s leadership team to make it more competitive.
Anderson previously served as PAL’s Vice President for Revenue Management and Strategy, and brings years of leadership experience as Director for Revenue Management and Planning at Amerijet International Airlines in the U.S., Finance Manager for Customer Service Ops for Amazon Japan, and Director for Global Cargo Strategy, Alliances, and Product for U.S. mega-carrier Delta Air Lines.
These developments come at the heels of other significant management actions taken under the PHI leadership of Tan.
Last July, PAL appointed Anna Isabel Villanueva-Bengzon as Chief Financial Officer (CFO). Before joining PAL, Bengzon was the highly experienced Deputy CFO for Global Business Power Corporation of Meralco PowerGen until July 2023.
She has also worked as CFO for MediaQuest Holdings Inc., TV5 Network, Inc. and Metropac Movers Inc., as well as VP/Head of Investor Relations at PLDT.
Tan likewise initiated the investment in a new fleet of long-haul aircraft to anchor PAL’s global network, as shown in the purchase of nine Airbus A350-1000 new-generation aircraft last June.
In the midst of a volatile aviation market characterized by a surging recovery in passenger travel, PAL has shown a robust financial performance thus far. The airline posted a net income of $197 million for 2022 and a record $250 million for the first six months of 2023.
When PAL announced its strong performance last Aug. 11, Tan affirmed that PAL was beginning to realize the benefits of its sacrifices in the past few years.
“PAL is on a recovery track and is now in a position to carry out major product and digital transformation initiatives in order to grow amid a more competitive and challenging aviation industry,” Tan said.