Seven of the most important Philippine conglomerates have formally agreed to form a brilliant consortium to rehabilitate, operate and maintain the Ninoy Aquino International Airport (NAIA).
Gokongwei-led JG Summit announced the formation of a consortium that also includes Aboitiz InfraCapital, AC Infrastructure Holdings, Alliance Global, Filinvest Development Corp, Asia’s Emerging Dragon Corp and Metro Pacific Investments Corp, it said: ABS-CBN.
The consortium believes that with the modernization, NAIA will have the opportunity to serve an extra 11 million passengers annually from the present 39.5 million, JG Summit said in an announcement.
It will even increase the variety of hourly aircraft flights, i.e. takeoffs and landings, from 40 to 48.
“Increasing NAIA capability is the fastest option to address airport congestion while other airports are being developed outside the capital Manila. The consortium believes that this approach provides greater economic advantages and sustainable development for all the country,” JG said Inquirer.
Tycoon John Gokongwei’s JG Summit group includes Cebu Pacific, the most important Philippine airline.
The consortium will work with foreign technical partners with world-class track records in airport operations to boost, modernize and increase the operational efficiency of NAIA, Ayala added.
