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Lucio Tan promotes apo Hun Hun as PAL Holdings VP amid Chapter 11 filing speculation

Bilyonaryo Lucio Tan has appointed his millennial grandson as a top officer of PAL Holdings, the parent of Philippine Airlines (PAL) which is one the verge of bankruptcy.

PAL Holdings board approved the appointment of Lucio “Hun Hun” Tan III as vice president during a meeting on May 26.

PAL capital deficient: Lucio Tan’s losses swell to P29B in first 9 months of 2020

Lucio – who is in recovery mode in a hospital after contracting COVID-19 last month – took over as chairman, president, CEO and COO of PAL Holdings in July 2020 after a major revamp which saw his children, Vivienne Tan and John Tan, step down from its board.

The 28-year old Hun Hun was appointed PAL Holdings director in December 2019 shortly after the death of his father, Bong Tan.

Lucio Tan losing P1B per month: Pilot-less PAL estimated to triple red ink to P12B in 2019

Hun Hun, a summa cum laude graduate from Stanford University, is a member of three committees in PAL Holdings – executive, corporate governance, and audit and risk management.

PAL has neither confirmed nor denied it was planning to file Chapter 11 bankruptcy soon to keep its business afloat .

PAL has piled up P29.03 billion losses in the first nine months of 2020 or 42 percent more than the P20.4 billion total losses it racked up from 2017 to 2019.

Lucio – who is in recovery mode in a hospital after contracting COVID-19 last month – took over as chairman, president, CEO and COO of PAL Holdings in July 2020 after a major revamp which saw his children, Vivienne Tan and John Tan, step down from its board.

The 28-year old Hun Hun was appointed PAL Holdings director in December 2019 shortly after the death of his father, Bong Tan.

Hun Hun, a summa cum laude graduate from Stanford University, is a member of three committees in PAL Holdings – executive, corporate governance, and audit and risk management.

PAL has neither confirmed nor denied it was planning to file Chapter 11 bankruptcy soon to keep its business afloat .

PAL has piled up P29.03 billion losses in the first nine months of 2020 or 42 percent more than the P20.4 billion total losses it racked up from 2017 to 2019.

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