Clark International Airport

Clark International Airport Corporation remits P203-M to national treasury

Joann Manabat

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Clark International Airport Corporation remits P203-M to national treasury
CIAC, which manages the government-owned civil aviation complex in the Clark Freeport Zone, says it's the biggest dividend share it has ever turned over

PAMPANGA, Philippines – The Clark International Airport Corporation (CIAC), on Tuesday, May 14, announced that it remitted P203 million in dividends from its 2023 operations to the Bureau of Treasury last month.

According to CIAC president Arrey Perez, CIAC, which manages the government-owned Clark Civil Aviation Complex in the Clark Freeport Zone, remains financially strong, noting that the remittance is 12% higher than the P180.4 million in 2022.

Perez said CIAC has consistently adhered to Republic Act 7656 or the Dividend Law by declaring and remitting the required cash dividends to the national government.

“Our remittance dwindled to P95 million in 2020 after the airport was privatized, but this year’s amount of P203 million remitted to the national treasury, so far, is CIAC’s biggest dividend share,” Perez said in a press release.

Perez attributed the increase in its revenues to “fiscal discipline” and efficient collection from its locators in its aviation complex.

CIAC currently has around 140 locators engaged in both aeronautical and non-aeronautical-related businesses. Among its top locators include Clark Global City, Luen Thai International, and FedEx, CIAC told Rappler on Tuesday.

CIAC said this signifies good credit standing among financial institutions through its “7 Flagship Projects” which are:

  • Clark National Food Terminal
  • Clark Entertainment and Events Center
  • Urban Renewal and Heritage Conservation Program
  • Clark International Airport (CRK) direct access link
  • CRK second runway’s detailed site development plan
  • Expansion and upgrading of utilities
  • New CIAC headquarters

The flagship projects will establish the Clark Airport City and transform the freeport zone as the “premier global civil aviation logistics hub of the Philippines,” CIAC said.

“These game-changing projects are intended to improve the business climate in Clark, attract more foreign investments that in turn will redound to an increase in CIAC’s contributions to the national government to fund its development projects,” said Perez.

Clark International Airport, the largest business in the Clark Civil Aviation Complex, is operated by the Luzon International Premier Airport Development Corporation (LIPAD) under a 25-year operations and management concession agreement with the Bases Conversion and Development Authority (BCDA) in 2019. –

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