PHILIPPINE AIRLINES (PAL), operated by PAL Holdings, Inc., has appointed British aviation executive Richard Nuttall as its latest president, a move aimed toward accelerating the airline’s international expansion and driving “sustainable growth.”
“Appointing Richard Nuttall to Philippine Airlines is a very important a part of our medium-term and long-term strategy of constructing a strong management team and growing our business internationally,” said PAL Holdings President and Chief Operating Officer Lucio C. Tan III.
“As president, he’ll play an lively role in bringing a world dimension to the Heart of the Filipino, and I look ahead to working closely with him in the times and months ahead,” he added.
Mr. Nuttall’s appointment will take effect on May 29, the airline said in a press release on Wednesday.
“I’m confident that he’ll create and develop sustainable growth for PAL,” PAL Chairman and Chief Executive Officer Lucio C. Tan said.
“Stabilizing and enhancing the corporate’s financial performance is paramount. PAL recently emerged from financial struggles, and Mr. Nuttall might want to ensure sustainable profitability,” said Globalinks Securities and Stocks, Inc. Head of Sales Trading Toby Allan C. Arce in a Viber message.
Mr. Nuttall previously served because the chief executive officer of SriLankan Airlines, where he oversaw the carrier’s return to operational profitability.
He also served as an executive board member of the SkyTeam Alliance, working on the reform of the Alliance’s governance to advance airline collaboration.
“Having a brand new airline president with much experience in establishing international airline destinations ought to be a lift for PAL. I feel our local airlines have roughly provided many of the needed local connectivity. It’s time they ven-ture to ascertain more international destinations for our people to travel to,” said Nigel Paul C. Villarete, senior advisor at technical advisory group Libra Konsult, Inc., via Viber.
Currently, PAL operates a world network of nonstop flights out of hubs in Manila, Cebu, Clark, and Davao to 31 destinations within the Philippines and 37 destinations across Asia, North America, Australia, and the Middle East.
PAL said the corporate’s current president and chief operating officer (COO), Stanley K. Ng, will assume a brand new role as vice-president of PAL Holdings, Inc. and a member of the corporate’s board of directors.
PAL said Mr. Ng’s appointment at its parent company is anticipated to offer the flag carrier with strategic direction and vision in bringing the airline to a brand new level of service and profitability.
Further, PAL said its general counsel, Carlos Luis L. Fernandez, may even tackle a brand new role as executive vice-president and chief operating officer effective May 29.
For 2024, PAL Holdings recorded a complete comprehensive net income of P10.01 billion, falling by 51% from P20.48 billion in 2023 attributable to lower revenues for the period. It logged a revenue of P178.01 billion, marking a decrease of 0.62% from P179.12 billion in 2023.
The flag carrier said the decline was attributable to a decrease within the load factor, which fell to 79.1% last yr from 80.8% in 2023, contributing to lower revenues for the period. — Ashley Erika O. Jose
