Philippine Airlines' P20-billion NAIA terminal proposal takes a back seat
MANILA, Philippines – The P20-billion proposal of Lucio Tan-led Philippine Airlines (PAL) to build a new passenger terminal at the Ninoy Aquino International Airport (NAIA) is taking a back seat, after a consortium affiliated with the airline formalized a plan to rehabilitate and operate the dilapidated international gateway.
"It will take a back seat first – the plan for another terminal," PAL president and chief operating officer Jaime Bautista told reporters on the sidelines of an event in Makati City last week.
This was after the NAIA Consortium – which Tan-led Asia's Emerging Dragon Corporation is part of – formally submitted to the government its P350-billion proposal to rehabilitate, expand, operate, and maintain NAIA for 35 years.
Similar to PAL's proposal, the NAIA Consortium also wants to develop additional passenger terminals, pending government approval.
Aside from Asia's Emerging Dragon, members of the consortium are Aboitiz InfraCapital Incorporated, AC Infrastructure Holdings Corporation, Alliance Global Group Incorporated, Filinvest Development Corporation, JG Summit Holdings Incorporated, and Metro Pacific Investments Corporation.
Back in August 2017, PAL announced that it is in talks with the Philippine Amusement and Gaming Corporation (Pagcor) on the lease deal it signed for a 10-hectare parcel of land in NAIA. (READ: PAL eyes Airbus A350-1000 as plane marks 1st touchdown in Manila)
"We are still in discussion with Pagcor [on the lease], but when the consortium takes over, they will have to work with Pagcor," Bautista told reporters.
PAL is continuing its fleet modernization program in a bid to push its newly acquired 4-star airline status to 5 stars.
Bautista had said the airline expects delivery of 15 aircraft, which will cost around $2 billion, including spare parts.
PAL carried 15 million passengers in 2017 and is targeting 16.5 million passengers in 2018. – Rappler.com