THE Manila International Airport Authority (MIAA) said it remitted P3.42 billion in dividends to the national government in 2018, fueled by the higher number of flights, passengers and additional concessions it had last year.
The Ninoy Aquino International Airport (NAIA) operator’s remittance was 52% higher than the P2.25 billion remitted to the government in 2017.
Aside from the increase in volume of passengers and flights, MIAA Assistant General Manager Arlene Britanico attributed the higher remittance to stricter implementation of the point-of-sale system, rolling out variable parking rates and opening new parking spaces.
“The gain on sale of MIAA property to DPWH (Department of Public Works and Highways) for C5 extension largely contributed to the increase in MIAA’s net income for the year 2018,” she added.
The DPWH and private concessionaire Cavitex Infrastructure Corp. are currently constructing the C5 South Link Project, a portion of which involves acquiring right of way on structures owned by MIAA.
As a government-owned and -controlled corporation, the MIAA is required to remit 50% of its annual net income to the national government in exchange of its fiscal autonomy. — Denise A. Valdez