A San Miguel Corporation (SMC)-led consortium has been selected to renovate and operate the Ninoy Aquino International Airport (NAIA) in the Philippines as a part of a USD3 billion contract. The consortium also comprises RLW Aviation Development, RMM Asian Logistics and South Korea-based Incheon International Airport. The companies will commence operations by August 2024.
The consortium has been granted a licence to operate the airport for 15 years with an option to extend it for 10 years.
The contract also requires the consortium to almost double the NAIA’s capacity to at least 60 million passengers per year from 32 million currently, and increase air traffic movements to 48 per hour from 30 to 40.
