Philippine Airlines names owner's son-in-law as president

Philippine Airlines on Monday named Stanley Ng, a pilot and son-in-law of the company's billionaire owner Lucio Tan, as its acting president and chief operating officer. The 42-year-old replaces Gilbert Santa Maria who is stepping down just two and a half years into the job. The outsourcing veteran steered the carrier during the coronavirus pandemic and the subsequent Chapter 11 bankruptcy process in the US, which was completed in December. Ng is the first pilot to assume the Philippine Airlines presidency since the early 1960s. He started in the company's ground staff in 2003, began flying in 2008 and was the airline's senior vice president for operations until his new appointment. He is the husband of Tan's daughter Lilybeth. Ng is taking over a leaner airline after the bankruptcy process that saw $2 billion of its liabilities forgiven, 25% of its fleet cut and roughly a third of its workforce slashed. But Ng inherits the daunting mission of reviving the Philippines' flag carrier, which had been struggling with losses even before the pandemic. April Lee-Tan, head of research at COL Financial, said Philippine Airlines could benefit when countries start to reopen their borders. The Philippines, for instance, is set to welcome fully vaccinated foreign tourists starting Feb. 10. But soaring fuel costs will be a headwind for the carrier. "We do have high oil prices as another challenge," Lee-Tan said.<br/>