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Manila Bulletin devider Business devider The Stock Market devider PAL officially names Nuttall president, Fernandez COO as global expansion takes center stage

PAL officially names Nuttall president, Fernandez COO as global expansion takes center stage

Published May 29, 2025 04:06 pm
Flag-carrier Philippine Airlines Inc. (PAL) is geared up to expand its global presence and strengthen its position as a competitive player in international aviation to sustain its strong performance last year.
The airline’s growth will also bank on the recent leadership change with the appointments of Richard Nuttall as President and Carlos Luis Fernandez as Executive Vice President and Chief Operating Officer formalized during the annual stockholders’ meeting of parent company PAL Holdings Inc.
“Philippine Airlines delivered solid financial results, expanded its network, and maintained high standards of operational reliability, amid global challenges that have continued to impact the airline industry,” said PAL Holdings President Lucio C. Tan III.
He added that, “These positive outcomes have led to stronger financial footing, renewed stakeholder confidence, and better preparedness for PAL for its future growth initiatives.”
Dr. Lucio C. Tan, PAL Chairman and CEO expressed optimism for the future, noting that “Our financial stability reflects disciplined management and a clear strategic direction.
“With a strengthened leadership team, we believe PAL is well-positioned to navigate the challenges of an increasingly competitive global market and grow further.”
Philippine Airlines is preparing for a significant fleet upgrade with the planned delivery of nine Airbus A350-1000 long-range aircraft, the first of which is scheduled to arrive by end of the year.
PAL is also strengthening its competitive edge by expanding nonstop routes and forming new inter-airline partnerships to improve connectivity to global markets and offer customers greater access to more destinations.
The national flag carrier achieved a net margin of five percent last year, surpassing the three percent global industry average, and registered a net income of $151.1 million (₱10.22 billion) and operating income of $314.4 million (₱18.08 billion).
This was generated from operating 110,867 flights and carrying 15.6 million passengers on flights to 32 cities in the Philippines and 37 cities in Asia, North America, the Middle East and Oceania.
PAL recorded a net income of $77 million (₱4.66 billion) and operating income of $75 million (₱4.70 billion) in the first quarter of 2025, sustaining its profitability trajectory.

Related Tags

Philippine Airlines Lucio Tan Lucio Tan III Richard Nutall Carlos Luis Fernandez
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