PAL Holdings says airline unit’s board reinstates two key roles

PAL Holdings, Inc. said on Tuesday that the board of its unit had approved the reinstatement of two key roles in the operating company.

In a regulatory filing, PAL Holdings said the directors of Philippine Airlines, Inc. (PAL) had approved the reinstatement of the chief commercial officer position, appointing Eric David Anderson to the post with the rank of senior vice-president.

Mr. Anderson had served as vice-president for revenue management and strategy.

The approval was made during a board meeting on Aug. 29. 

The company also said that in the same meeting, the board had greenlit the reinstatement of the executive vice-president position, who will report to the company’s president and chief operating officer. 

The reinstatement is aimed at ensuring “that the PAL operations are carried out in accordance with the business plan of the Company.”

In May, PAL Holdings announced the appointment of Lucio C. Tan III as its president, taking over the post of Lucio C. Tan, who retained his role as chairman and chief executive officer.

For the April-to-June period, PAL Holdings reported an attributable net income of P6.23 billion, more than double the P2.47 billion in the same period last year, driven by higher revenue for the period, the company’s financial report showed.

The company’s gross revenue for the second quarter expanded by 34.1% to P45.24 billion from P33.74 billion in the same period last year.

At the local bourse on Tuesday, shares in the company gained four centavos or 0.78% to end at P5.15 apiece. — Ashley Erika O. Jose