The deal of the centuryThat is how San Miguel Corporation’s takeover of the operations and management of the Ninoy Aquino International Airport (NAIA) in the next 25 years turns out to be. So did SMC president and CEO Ramon S. Ang get himself a good deal despite promising an astronomical amount of P1 trillion to the government? At NAIA, revenues from passenger terminal fees are 46 percent of total airport revenues; the bulk, or 54 percent, comes from so-called aeronautical revenues. SMC is also the developer and operator of the recently jet-ready Caticlan (Boracay) airport, the country’s fourth busiest airport and the largest airport in Western Visayas. It generated total revenues of $800 million in 2019.

Source: Philippine Star February 21, 2024 20:13 UTC