Stanley

PAL confirms appointment of Capt. Ng as prexy, COO

May 26, 2022 Jun I. Legaspi 1149 views

PHILIPPINE Airlines Inc. (PAL) announced the confirmation of the appointment of Capt. Stanley K. Ng as President and Chief Operating Officer (COO) of the flag carrier, following the PAL Annual Stockholders Meeting (ASM) Thursday, May 26,2022.

“I am humbled by the trust and confidence of our PAL board and stockholders,” said Capt. Ng. “Working together with the entire PAL leadership team and our valued employees, I pledge to do the best we can, with passion and dedication, to ensure that Philippine Airlines fulfills its mandate as the flag carrier to be of service to the flying public.”

The confirmation of the Capt. Ng comes less than four months after his initial appointment to the same position in an acting capacity.

At the ASM, the newly confirmed President & COO led the management team in reporting PAL’s profitability breakthrough for the first quarter of 2022. PAL registered an operating income of US$ 33.8 million (P1.7 billion) and net comprehensive income of US$ 22.6 million (P1.2 billion) for Q1 2022, coming at the heels of a US$ 1.22 billion (P62.7 billion) comprehensive income result for the 2021 calendar year.

There are likewise indications of positive results for the first two months of Q2 2022, as PAL continues to ramp up international and domestic network domestic flights amid an ongoing travel market recovery.

PAL recently announced a sweep of international awards for its restructuring initiatives, namely the Asia Pacific Restructuring Deal of the Year honors from Airline Economics magazine and the AirFinance Journal Deal of the Year award.

The ASM also saw the election of the following new directors of the PAL board:

Shiela T. Pascual, who serves concurrently as a Director of PAL Holdings, Inc., Allied Commercial Bank, Buona Sorte Holdings, Inc., Philippine National Bank, Saturn Holdings, Inc., Tangent Holdings Corporation, Trustmark Holdings Corporation, Zuma Holdings and Management Corporation; and Executive Officer – Business Development Manager, Allied Banking Corporation (HK) Ltd.

Vivienne K. Tan, who is also a Director of Philippine National Bank and Air Philippines Corporation, Member of the Board of Trustees of University of the East and University of the East Ramon Magsaysay Memorial Medical Center, Founding Chairperson of Entrepreneurs School of Asia and Founding Trustee of Philippine Center for Entrepreneurship (Go Negosyo).

Jerome S. Tan, who also serves as Director of PAL Holdings, Inc. and both President and Director of Integrated Micro-Electronics, Inc.

David Uy Ong, who is an entrepreneur with extensive business management experience, including serving as top executive or director of companies such as Global Tech Eco Corporation, Globo de Oro Holding Corporation, North Star Flour Milling Corp., Cuisine of the Philippines Inc. (Seascape Village), H2O Technologies Inc., Salko Konstruct Inc. and UDRAGON Corporation.

Pascual and Ms. Tan were elected to fill vacant positions in the PAL Board, while Tan and Ong will take the place of independent board members Atty. Florentino Herrera and Mark Chen, who have completed their service in the Board.

“We thank Atty. Herrera and Mr. Chen for their valuable contributions to the flag carrier during their stints as members of the PAL Board of Directors,” said Capt. Ng. “We wish them well in their next endeavors.” By JUN I. LEGASPI

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