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  HOME | Business & Economy (Click here for more)

Philippines Airlines’ New President Dies at 53

MANILA – The president of Philippines’ flag carrier, Lucio Tan Jr., died on Monday, reportedly from a brain injury, two days after the founder of the country’s largest airline passed away.

Tan Jr., president of Philippines Airlines, died at 53 and is survived by his wife and two sons, according to a statement on the carrier’s website.

Tan Jr. reportedly collapsed Saturday during a basketball game and had been hospitalized since.

“His untimely passing leaves a deep void in our hearts and our group’s management team, which would be very hard to fill,” his sister and board of directors member Vivienne Tan said in the announcement of his passing.

Tan Jr. had been named the carrier’s president and CEO late last month. He was also the president of Eton Properties Philippines and Tanduay Distilleries, as well as the director of LT Group and the Philippine National Bank.

His death comes two days after news broke that John Gokongwei Jr., founder and former CEO of Cebu Pacific Air – the largest carrier in the Philippines – died Sunday at 93 years of age.

The billionaire was named the country’s second-richest by Forbes magazine in 2017 and the 250th in the world, with a net worth of $5.8 billion.

Gokongwei Jr.’s business empire spanned several industries including banking and retail. He’s survived by his wife and six children.

 

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