PAL PLANS US $400M AIRPORT PROJECT
Asia’s oldest airline to submit terminal plan by year-end
PHILIPPINE Airlines Inc (PAL) said yesterday it will present to the government its plan to build a new US$400 million (RM1.7 billion) terminal before the year ends to improve passenger service and accommodate an expected rise in the volume of air travel in the coming years.
President Jaime Bautista said Asia’s oldest airline was willing to take in a partner for the terminal project at congested airport, once they got the go-ahead from the government.
“If we are allowed to start construction next year, then it should be finished by end-2020.”
Bautista said the proposed terminal could accommodate an additional 12 million passengers, which should help ease congestion at the country’s main international gateway.
Designed for 30 million passengers, the number of passengers at the Ninoy Aquino International Airport (NAIA) reached almost 40 million last year, he said.
Right now, PAL exclusively uses Terminal 2, one of the four terminals at NAIA. The new terminal would be an extension of its terminal in an area where PAL planes are parked.
To decongest the Manila airport, PAL is hopeful that another airport will be built near the capital. The government is looking at private-sector proposals to build airports in Bulacan and Cavite.
Bautista said PAL was in talks with potential equity partners for the terminal expansion project, which would most likely be financed with up to 30 per cent equity and 75 per cent loan. Reuters