NAIA operator sees P14.8-billion revenue this year
THE Manila International Airport Authority (MIAA) said it expects revenues to rise by 18% to P14.82 billion this year, with the volume of arriving and departing passengers expected to increase by 15% to more than 48 million.
MIAA, operator of Ninoy Aquino International Airport, is also allocating P4.37 billion for capital expenditures this year, as per its corporate operating budget report for 2024, which was approved by its board of directors on Oct. 20 last year.
The Transportation department expects the winning bidder for the operations and maintenance of the airport to take over by September.
Four groups have submitted bids for the P170.6-billion public-private partnership upgrade project: Manila International Airport Consortium, Asia Airport Consortium, GMR Airports Consortium, and SMC SAP and Co. Consortium.
According to MIAA, domestic and international passenger service charge revenue is expected to reach P5.29 billion this year, a 25% increase over the estimated P4.22 billion for 2023.
The revenue from rental fees is expected to increase by 4% to P2.08 billion, concession privilege fees by 16% to P1.46 billion, and aeronautical fees by 19% to P5.32 billion.
A 24% increase to P7.36 billion is expected in the maintenance and other operational expenses.
MIAA said repairs and maintenance alone will cost P1.16 billion, up by 85%, while power and water will cost P1.47 billion, up 9%. Net income after tax is anticipated to reach P2.31 billion, marking an 8% increase from 2023.
For the first nine months of 2023, MIAA’s net income from operations more than doubled, increasing from P1.33 billion to P3.63 billion compared to the same period a year earlier.
MIAA recorded a net income after tax of P3.1 billion, more than twofold the 1.95 billion last year. For the period, MIAA’s operating expenses went up by 23% to P5.66 billion from P1.06 billion.
Flights, which include international, domestic, and general aviation, are expected to increase by 5% to P308,601 this year.
The Tourism department reported 5.45 million international visitors in 2023, surpassing the year’s target of 4.8 million.
For 2024, the department aims to attract 7.7 million international visitors.