San Miguel-led group remits P30 billion to govt after NAIA takeover

Passengers flock to the Ninoy Aquino International Airport Terminal 1 in Pasay City on March 27, 2024. An influx of passengers is anticipated as many head to the provinces for the Holy Week weekend. Mark Demayo, ABS-CBN News

Arthur Fuentes

ABS-CBN News

MANILA - The San Miguel-led consortium that is now operating the Ninoy Aquino International Airport has made a P30-billion upfront payment to the government, the Department of Finance said on Tuesday.The DOF said the remittance from the Manila International Airport Authority (MIAA) cleared with the Bureau of the Treasury on Sept. 16, following the official turnover of NAIA&rsquo;s operations and maintenance from the MIAA to the New NAIA Infrastructure Corp (NNIC) on Sept. 14.Finance Secretary Ralph Recto said the money will boost the government&rsquo;s non-tax revenue stream.&ldquo;This will not only transform NAIA into a world-class airport but also guarantees the government a healthy income stream from the private sector operator,&rdquo; the Finance Chief said.According to Recto, the P30 billion remittance was just the beginning and the government stands to earn more from the deal.&ldquo;As the project finally takes off, the government is expected to generate roughly P900 billion in revenues from this deal over the entire term, which is a 15-year concession period, extendable by another 10 years. This will be equivalent to a revenue source of more or less P36 billion annually to fund more projects in education, public health, and infrastructure,&rdquo; he added.The NAIA rehabilitation project is estimated to cost of P170.6 billion and is the largest Public-Private Partnership project under President Ferdinand Marcos, Jr., the DOF said.NNIC has promised to upgrade NAIA, which was dubbed in the past as one of the worst international airports, into a world-class facility. &nbsp;<ul><li><a href="https://news.abs-cbn.com/business/2024/9/16/walkalators-terminal-extension-subway-link-what-s-coming-after-naia-turnover-842" rel="noopener noreferrer" target="_blank">Walkalators, terminal extension, subway link: What&#39;s coming after NAIA Turnover</a></li><li> </li></ul><iframe width="640" height="360" src="https://www.youtube.com/embed/koS5EXvYjrY?&wmode=opaque&rel=0" frameborder="0" allowfullscreen="" class="fr-draggable"></iframe> The consortium said it would fix the perennial problems of broken walkalators, airconditioning systems, toilets and boarding bridges while working closely with telcos to improve broadband connectivity.Other improvements include upgrades to the airport parking system, baggage handling system, self check-ins, self bag-drops and biometrics.However, terminal fees for passengers are expected to increase, as well as the landing, take off and other fees for airlines.NNIC General Manager Angelito Alvarez said management expects annual passenger capacity to grow from 35 million to 62 million, while runway movements will also increase.The Department of Transportation said NNIC must meet several key performance indicators or risk shortening the 25-year concession agreement to 15 years.

According to Recto, the P30 billion remittance was just the beginning and the government stands to earn more from the deal.&ldquo;As the project finally takes off, the government is expected to generate roughly P900 billion in revenues from this deal over the entire term, which is a 15-year concession period, extendable by another 10 years. This will be equivalent to a revenue source of more or less P36 billion annually to fund more projects in education, public health, and infrastructure,&rdquo; he added.The NAIA rehabilitation project is estimated to cost of P170.6 billion and is the largest Public-Private Partnership project under President Ferdinand Marcos, Jr., the DOF said.NNIC has promised to upgrade NAIA, which was dubbed in the past as one of the worst international airports, into a world-class facility. &nbsp;<ul><li><a href="https://news.abs-cbn.com/business/2024/9/16/walkalators-terminal-extension-subway-link-what-s-coming-after-naia-turnover-842" rel="noopener noreferrer" target="_blank">Walkalators, terminal extension, subway link: What&#39;s coming after NAIA Turnover</a></li><li> </li></ul><iframe width="640" height="360" src="https://www.youtube.com/embed/koS5EXvYjrY?&wmode=opaque&rel=0" frameborder="0" allowfullscreen="" class="fr-draggable"></iframe> The consortium said it would fix the perennial problems of broken walkalators, airconditioning systems, toilets and boarding bridges while working closely with telcos to improve broadband connectivity.Other improvements include upgrades to the airport parking system, baggage handling system, self check-ins, self bag-drops and biometrics.However, terminal fees for passengers are expected to increase, as well as the landing, take off and other fees for airlines.NNIC General Manager Angelito Alvarez said management expects annual passenger capacity to grow from 35 million to 62 million, while runway movements will also increase.The Department of Transportation said NNIC must meet several key performance indicators or risk shortening the 25-year concession agreement to 15 years.

Finance Secretary Ralph Recto said the money will boost the government&rsquo;s non-tax revenue stream.&ldquo;This will not only transform NAIA into a world-class airport but also guarantees the government a healthy income stream from the private sector operator,&rdquo; the Finance Chief said.

MANILA - The San Miguel-led consortium that is now operating the Ninoy Aquino International Airport has made a P30-billion upfront payment to the government, the Department of Finance said on Tuesday.The DOF said the remittance from the Manila International Airport Authority (MIAA) cleared with the Bureau of the Treasury on Sept. 16, following the official turnover of NAIA&rsquo;s operations and maintenance from the MIAA to the New NAIA Infrastructure Corp (NNIC) on Sept. 14.

The San Miguel-led consortium that is now operating the Ninoy Aquino International Airport has made a P30-billion upfront payment to the government, the Department of Finance said on Tuesday.

The San Miguel-led consortium that is now operating the Ninoy Aquino International Airport has made a P30-billion upfront payment to the government, the Department of Finance said on Tuesday.

San Miguel-led group remits P30 billion to govt after NAIA takeover | ABS-CBN News

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San Miguel-led group remits P30 billion to govt after NAIA takeover

San Miguel-led group remits P30 billion to govt after NAIA takeover