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UPDATE 1-Philippine Airlines president Bautista to retire end-June

Published 06/18/2019, 06:40 PM
Updated 06/18/2019, 06:50 PM
UPDATE 1-Philippine Airlines president Bautista to retire end-June
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* Daughter of airline's owner to lead management
* Airline president credited for carrier's ratings upgrade
* Philippine rival Cebu Air beefs up fleet

(Adds background, details)
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.
Under Bautista's leadership, Philippine Airlines pursued an
expansion programme, ordering Airbus AIR.PA wide-body jets to
grow its profitable overseas route network. The carrier also
improved its service, securing it a 4-Star rating from Skytrax.
In January, Japan's ANA Holdings Inc 9202.T 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 CEB.PS 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.

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