THE management and board of directors of Philippine Airlines (PAL) is scheduled to meet by the end of the month to discuss the search for a new president.
A source close to the issue told reporters last week a meeting has been set on July 29 to form a search committee that will scout the next leader of PAL.
Another source within the company confirmed the information to BusinessWorld yesterday.
The formation of a search committee comes after long-time PAL President and Chief Operating Officer Jaime J. Bautista quit last month, pushing owner and chairman Lucio C. Tan to take on the role of interim president of the airline.
Assisting Mr. Tan in day-to-day operations is his daughter, PAL Executive Vice-President Vivienne K. Tan, who was the immediate officer-in-charge of the company when Mr. Bautista stepped down.
Prior to the meeting, Ms. Tan said the company is busy finding ways to improve PAL’s efficiency as part of achieving its goal to become a five-star airline and swinging back to profit.
“We’re working to make PAL more efficient and productive by improving business procedures — how we do things,” she was quoted as saying in a statement earlier this month.
The operator of the flag carrier PAL Holdings, Inc. recorded an attributable net loss of P838.17 million in the first quarter, slimmer by 24.3% than the P1.11 billion it posted in the same period last year, driven by a growth in passenger volume during the period. — Denise A. Valdez
