Filinvest Development Corporation (Filinvest), JG Summit and Singapore-based Changi Airport Group (Changi) has formed a joint venture (JV) to manage the Clark International Airport in Philippines. The JV will be called Luzon International Premiere Airport Development and Filinvest will hold a majority stake of 43 per cent in the venture while JG Summit will own 33 per cent of the entity. Changi has a 15 per cent interest and the Philippine Airport Ground Support Solutions (PAGGS) will own the rest.
Reconstruction works on Clark Airport’s new passenger terminal was completed in January 2021 at a cost of USD197 million.
