Santa Maria, who led PAL through the COVID-19 pandemic and its successful restructuring through a Chapter 11 US bankruptcy filing, was appointed director during the company’s stockholders’ meeting last Sept. 20.
Chelsea said Santa Maria’s “extensive expertise in the transportation and logistics industry will provide valuable insights and drive further growth for the company.”
Improving prospects
Chelsea, one of the country’s biggest logistics and shipping providers, cut losses by 81 percent to P81 million while revenues grew 11 percent to P3.98 billion, financial data covering the first semester of 2024 showed.
Alfonsus V. Damuy, the company’s president and CEO, said they aim to raise revenues “by expanding services which are responsive to market conditions and focus on profitable routes, and also diversify revenue streams.”
Strategic partnerships, cost savings
“We will continue to invest in technology as automation and digitalization lead to cost savings and better customer experiences,” Damuy said.
“We will explore strategic partnerships for growth and cost-sharing. Finally, we will maintain a stable balance sheet and manage debt levels to ensure liquidity,” he added.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
