Lucio Tan III appointed new PHI president

Lucio "Hun Hun" Tan III, 30, has been appointed as the new President of PAL Holdings Inc. (PHI), the parent company of Philippine Airlines, succeeding his grandfather, Dr. Lucio C. Tan.

Dr. Lucio C. Tan will continue to serve as the Chairman and CEO of PHI.

Tan III expressed his commitment to providing stability and upholding the highest level of integrity within the company, and plans to collaborate with Philippine Airlines President and COO, Capt. Stanley Ng, to prioritize customer interests and shareholder investments.

This appointment follows Tan III's recent takeover as president of LT Group and his previous roles as vice president of PHI and president and COO of Tanduay Distillers.

He is a graduate of Stanford University with degrees in electrical engineering and computer science.

The PAL operator has seen better performance since exiting voluntary Chapter 11 bankruptcy process in the United States, after completing a restructuring plan that eliminated $2.1 billion worth of obligations in 2021.