{"id":56929,"date":"2024-02-16T21:02:27","date_gmt":"2024-02-16T15:32:27","guid":{"rendered":"https:\/\/aviationa2z.com\/?p=56929"},"modified":"2024-02-16T21:02:31","modified_gmt":"2024-02-16T15:32:31","slug":"incheon-airport-consortium-won-3bn-bid-to-operate-manila-airport","status":"publish","type":"post","link":"https:\/\/aviationa2z.com\/index.php\/2024\/02\/16\/incheon-airport-consortium-won-3bn-bid-to-operate-manila-airport\/","title":{"rendered":"Incheon Airport Consortium Won $3Bn Bid to Operate Manila Airport"},"content":{"rendered":"\n

MANILA-<\/strong> A partnership consisting of Incheon International Airport Corporation (IIAC) and Filipino companies has secured a contract worth 170.6 billion pesos ($3.05 billion) to manage and maintain the Ninoy Aquino International Airport (NAIA) in Manila<\/a> for a potential duration of up to 25 years. <\/p>\n\n\n\n

This agreement represents the largest overseas project for the consortium.<\/p>\n\n\n\n

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Photo: Ninoy Aquino International Airport (NAIA)<\/figcaption><\/figure>\n\n\n\n

Manila Airport Bid Winner<\/h2>\n\n\n\n

The consortium comprises Incheon International Airport Corporation (with a 10 percent stake), San Miguel Holdings Corporation (33 percent), RMM Asian Logistics (30 percent), and RLW Aviation Development (27 percent). <\/p>\n\n\n\n

Their collective responsibility involves the privatized operation and maintenance of Ninoy Aquino International Airport in Manila, the Philippines, through a public-private partnership.<\/p>\n\n\n\n

Their proposal involved sharing 82.16 percent of the revenue with the government, which is more than double the offering of competing bidders.<\/p>\n\n\n\n

The project encompasses the refurbishment of runways, passenger terminals, and airside facilities to meet the increasing demands of passengers and ultimately aims to double the airport’s annual passenger capacity to at least 62 million.<\/p>\n\n\n\n

The successful bidder is obligated to invest a minimum of 141 billion pesos for the enhancement of NAIA. The government will receive an upfront payment of 30 billion pesos in addition to fixed annual fees of 2 billion pesos and a percentage share of gross revenue over the concession period.<\/p>\n\n\n\n

This accomplishment adds to IIAC’s track record in the Philippines<\/a>, building on previous projects such as providing master plans for Mactan-Cebu Airport in 2011, nationwide airports master plans in 2015, and overseeing construction management for Palawan Airport in 2018.<\/p>\n\n\n\n

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Handling International Airport Worldwide<\/h2>\n\n\n\n

The operator of Incheon International Airport from Korea views the contract as a chance to “diversify revenue streams and secure stable dividend income” by holding a 10 percent stake over 25 years, capitalizing on the robust aviation demand at Ninoy Aquino International Airport.<\/p>\n\n\n\n

In its current endeavors, IIAC is involved in international projects, which include handling the consignment operation of Kuwait Airport’s Terminal 4, overseeing the operation and maintenance of Batam Hang Nadim Airport in Indonesia, and providing consultation for Poland’s new airport project.<\/p>\n\n\n\n

Looking forward, the government-owned corporation aims to encourage the involvement of domestic companies in the design and construction of future projects, supporting their global expansion efforts and contributing to the nation’s economy.<\/p>\n\n\n\n

“Exporting the ‘K-Airport’ platform creates opportunities for related industries such as engineering, procurement and construction, IT, duty-free, and finance to participate in airport construction and operation ventures,” mentioned an IIAC official to the Korea JoongAng Daily<\/em>.<\/p>\n\n\n\n

Securing the NAIA development and operation project strengthens IIAC’s position as a global airport operator in Southeast Asia, as stated by IIAC President Lee Hag-jae. <\/p>\n\n\n\n

He emphasized their commitment to expanding overseas business worldwide, leveraging the operational expertise accumulated at Incheon Airport.<\/p>\n\n\n\n

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Air India Eyes New Direct Flights to Ninoy Airport in Manila and More<\/a><\/blockquote>