Lucio Tan grandson lands key post in PAL Holdings in pivotal period | Inquirer Business

Lucio Tan grandson lands key post in PAL Holdings in pivotal period

/ 05:10 AM May 28, 2021

Lucio Tan III is joining the management of Philippine Airlines (PAL) operator PAL Holdings Inc., a stock exchange filing on Thursday showed.

Tan, the grandson of taipan Lucio Tan, was named vice president of PAL Holdings.

He first became a director of PAL Holdings in December 2019—a month after the sudden passing of his father, Lucio Jr. or Bong, who was in the thick of implementing a turnaround strategy as president of the company.


The younger Tan’s role as vice president would give him direct exposure to management during a period of crisis for the aviation sector and for PAL, which is looking toward a Chapter 11 creditor protection program in the United States.


PAL, the oldest carrier in Asia, has yet to confirm plans for a Chapter 11 filing but the group previously announced it was moving forward with a “comprehensive restructuring plan that will ensure its viability.”

Apart from PAL Holdings, Tan is a director of Philippine Airlines Inc. and Air Philippines Corp.

He had resumed his father’s responsibilities within the Lucio Tan Group. He is also a director of listed LT Group Inc., director and president and chief operating officer of Tanduay Distillers Inc.

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TAGS: Lucio Tan III, PAL Holdings Inc., Philippine Airlines (PAL)

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