Lucio Tan III, grandson of taipan Lucio Tan, will possess a critical situation in his granddad’s misfortune making carrier organization, which has taken the brunt of discouraged travel interest in the midst of the Covid pandemic. In an exposure to the stock trade in PAL Holdings Inc., the recorded administrator of banner transporter Philippine Airlines, declared the arrangement of the …

Philippine Airlines is planning a major restructuring of its activities, which supposedly involves running to court to request compensation from paying creditors and holding the airline afloat. The declaration of Dominguez was accompanied by that of PAL, which said that a comprehensive plan for recovery and restructuring is ongoing, all but suggesting plans to seek court involvement. Strictly speaking, after …

Tycoon Lucio Tan Sr. took over the leadership of PAL Holdings Inc., the parent company of Philippine Airlines— a position vacated by his son and namesake who died last November. Advertising In an announcement to the Philippine Stock Exchange on Wednesday, PAL Holdings stated that Tan was appointed Chairman of the Board of Directors at a meeting on 18 February …