Politics

Airport authority sees 2023 revenue rising 36% to P11.5B

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THE Manila International Airport Authority (MIAA), which manages the Ninoy Aquino International Airport, said it expects revenue to rise 36% to P11.46 billion this year, with a capital expenditure target of P2.69 billion, up 98%.

The budget for maintenance and other operating expenses has been raised by 18% to P5.42 billion. Operating expenses include water, light, power, repairs and maintenance, manpower services, and security services.

The MIAA Board approved in October a proposed operating budget for 2023 of P12.734 billion, implying a deficit of P1.084 billion, which will be funded from retained earnings, according to documents obtained by BusinessWorld.

The MIAA said revenue gains are expected to come on the back of a revival in travel activity.

Revenue from passenger service charges, both domestic and international, is expected to rise 51% to P4.17 billion this year, while revenue from aeronautical fees is expected to grow 16% to P3.55 billion.

Revenue from rentals is expected to rise 57% to P2.59 billion.

Concession fees, including terminal and other areas, are expected to increase 7% to P532.63 million.

Revenue from parking is expected to rise 30% to P366.73 million.

Passenger traffic — arrivals and departures — is expected to rise 34% to 39.87 million this year.

Flights, including international, domestic, and general aviation, are expected to increase by 18% to 289,396 this year.

Separately, the Governance Commission for GOCCs (GCG) on Monday inspected the air traffic management facility of the Civil Aviation Authority of the Philippines (CAAP) in Pasay City.

“This is to ensure that the Philippine Air Traffic Management System’s management is operating functionally, safely, and reliably,” the GCG, which regulates government-owned and -controlled corporations (GOCCs), said in a statement.

The GCG said it will compile a scorecard for CAAP in light of the technical faults that brought down the air traffic control system on New Year’s Day, leading to the cancellation, delay or diversion of hundreds of flights.

“We want to know what really transpired here because this affects many individuals. Around 75,000 people were affected,” GCG Commissioner Gideon D.V. Mortel said.

“As an agency under our coverage, they are transparent. We were led (through) the entire process. The facility was shown to us and (CAAP has been) cooperative and willing to share with us all the information we need. In fact, after this, we will be writing CAAP another memorandum to complete their submissions based on what transpired here today,” he added. — Arjay L. Balinbin