'Super-Consortium' to Rehabilitate the Philippines’ Largest Airport
Seven of the the Philippines's biggest conglomerates formally agreed to create a super-consortium to rehabilitate, operate, and maintain the Ninoy Aquino International Airport (NAIA).
Gokongwei-led JG Summit announced the formation of the consortium, which also includes Aboitiz InfraCapital, AC Infrastructure Holdings, Alliance Global, Filinvest Development Corp, Asia’s Emerging Dragon Corp and Metro Pacific Investments Corp, as reported by ABS-CBN.
With the upgrade, the consortium believes that NAIA can accommodate an additional 11 million passengers annually from the current 39.5 million, JG Summit said in a statement.
It will also increase the number of hourly aircraft movements, or take offs and landings, to 48 from 40.
“Augmenting NAIA’s capacity is the quickest way to address airport congestion while other airports are being developed outside Metro Manila. The consortium believes that this approach promotes greater economic benefit and sustainability for the whole country,” JG told Inquirer.
The JG Summit group of tycoon John Gokongwei includes Cebu Pacific, the Philippines' largest airline.
The consortium will work with foreign technical partners with world class track records in airport operations to improve, upgrade, and enhance the operational efficiencies of NAIA, the Ayala disclosure added.