Philippine Air president Santa Maria to step down, Star reports

Philippine Airlines Inc. President Gilbert Santa Maria is stepping down from his role in the carrier, the Philippine Star reported Sunday, citing unnamed people in the industry.

The board of directors of the airline, majority owned by billionaire Lucio Tan, is set to meet Monday, and Santa Maria’s departure is on the agenda, the Star reported.

A Philippine Air spokesperson didn’t reply to calls and messages seeking comment.

The flagship carrier won court approval last month for its reorganization plan that paved the way for it to exit bankruptcy. Philippine Air is looking to tap $150 million in additional financing and plans to cut its debt by $2 billion.