Lisa Gokongwei passes Cebu Pacific board seat to financial savior Indigo Partners
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Lisa Gokongwei passes Cebu Pacific board seat to financial savior Indigo Partners

Bilyonaryo Lisa Gokongwei-Cheng is leaving the board of Cebu Pacific Inc. after just two months in her seat.

Gokongwei-Cheng is giving way to Brian Franke, a principal of Indigo Partners LLC, a private equity fund specializing in low-cost airlines worldwide.

Gokongwei-Cheng will focus on digital transformation and innovation efforts in her family’s other businesses.

Indigo, along with International Finance Corp., plunked in $250 million of the $845 million raised by the budget airline to get through the COVID turbulence.

Franke is currently the chairman of Mexico’s Volaris and director of Frontier Airlines, South American airline JetSMART, and airline analytics specialist APiJET, LLC.

He previously served on the boards of the Singapore-based airline, Tiger Aviation Pte. Ltd, from 2008 to 2010, and Tiger Airways Australia Pty Ltd., from 2009 to 2010.

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