Clark Airport concession holder to invest P6 billion

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THE North Luzon Airport Corp. (NLAC) said it is investing about P6 billion to fit out the new terminal at Clark International Airport, bringing it up to an annual capacity of eight million passengers.

NLAC was the winning bidder for the operation and maintenance concession of Clark International Airport. The consortium is composed of Filinvest Development Corp., JG Summit Holdings Inc, Philippine Airport Ground Support Solutions Inc and Changi Airport Philippines (I) Pte. Ltd. (CAP).

CAP is a wholly-owned subsidiary of Singapore’s Changi Airports International.

“We are very optimistic about the prospects of Clark International Airport and will do our part to support its growth by providing a world-class gateway airport. With our Group’s experience in airline operations, property development and our various consumer-oriented businesses, we will provide the best service and value proposition to both passengers and airlines to make Clark International their airport of choice,” JG Summit Holdings Inc. President and Chief Executive Officer Lance Y. Gokongwei said in a statement on Friday.

Filinvest said that the airport is expected to help spur growth in the tourism industry and other related businesses as it will be a departure and arrival point for more route network, which aims to introduce Clark to more domestic and international destinations.

“With the New Clark International Airport, travelers and visitors can expect to be greeted with fast, efficient, and hassle-free service. We believe that the ease in travel in a world-class airport will help boost the region’s tourism and related businesses. It is NLAC’s vision to redefine the air travel experience at Clark International Airport. The airport will be Northern and Central Luzon’s gateway connecting the region to the Philippines and the world,” Filinvest President and CEO Josephine Gotianun-Yap said.

NLAC said that it will tap Philippine Airport Ground Support Solutions, Inc to provide ground handling services to the airport terminal.

JG Summit closed at P59.40 on Friday, up 3.04%.

JG Summit reported a 30% decline in net profit in the third quarter to P14.79 billion due to effects of high fuel prices and a volatile dollar on its Cebu Pacific airline business and on its petrochemical business. — Reicelene Joy N. Ignacio