PRESIDENT Rodrigo R. Duterte signed into law a measure creating the Davao International Airport Authority (DIAA) that will manage airports in the Davao Region, including the city’s Francisco Bangoy International Airport.

Mr. Duterte signed the bill that became Republic Act No. 11457 on Aug. 30. It is known as “An act creating the Davao International Airport Authority, transferring existing assets of Francisco Bangoy International Airport to the Authority, vesting the Authority with power to administer and operate the Francisco Bangoy International Airport and appropriating funds therefor.”

The new airport authority will manage Davao City’s airport and other airports to be established in Davao del Sur, Davao del Norte, Davao Oriental, Davao Occidental and Compostela Valley.

The DIAA’s mandate is to promote and develop air traffic in the Davao Region “as a means of making the region a center of international trade and tourism.”

The DIAA is controlled by the Department of Transportation (DoTr).

The law exempts the DIAA from realty taxes. It has the authority to raise funds, either from domestic or international sources, by way of loans, credit or securities and other financing instruments, subject to the prior approval of the President.

The law consolidates Senate Bill No. 2168 and House Bill No. 8691. It was passed by the Senate and House of Representatives on June 4 this year. — Arjay L. Balinbin