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Philippine Airlines president Bautista to retire end-June


Reuters


By Alistair Smout and Neil Jerome Morales

PARIS, June 18 (Reuters) - Philippine Airlines President Jaime Bautista is set to retire at the end of this month, with the daughter of owner Lucio Tan taking over the management, the carrier said on Tuesday.

In a statement, the airline said Vivienne Tan, the company's executive vice-president, has been appointed officer-in-charge and will take over from Bautista after his retirement.

In January, Japan'sANA Holdings Inc acquired 9.5% of Philippine Airlines for $95 million to support its Asia growth strategy.

Philippine Airlines operates 98 aircraft, mostly Airbus jets, with a route network of more than 30 domestic and 40 international destinations.

The announcement of Bautista's retirement comes as rival Cebu Air Inc signed a $6 billion plane deal to buy 10 of Airbus's new long-range A321XLR passenger aircraft as well as 16 wide-body A330neos and five single-aisle A320neos.






This article appears in: Stocks , World Markets



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