SMC remits over P50B to gov’t in year 1 of NAIA operation

Metro Manila, Philippines - Diversified conglomerate San Miguel Corporation (SMC) has remitted over P50 billion to the government in its first year operation of the Ninoy Aquino International Airport (NAIA), its president and CEO Ramon Ang said on Thursday, Oct. 23.

Ang noted that 82 percent of the revenue goes to the government, and the rest stays with the corporation.

“Bakit kami pumapayag na napakaliit? Kasi gusto namin ma-gain 'yung experience na magpatakbo ng airport. 'Yun lang 'yun. Hindi na kailangan masyado kumita,” he said.

[Translation: Why do we agree to receive just a small amount of the revenue? Because we want to gain experience in running an airport. That’s it. We do not need to earn much.]

Transportation Secretary Giovanni Lopez, meanwhile, said the SMC remittance was higher than what the government-run Manila International Airport Authority (MIAA) – former operator of NAIA – has remitted in almost three decades.

“Ang naibigay lang pong dibidendo sa gobyerno is around P32 billion in almost 30 years, compared po dito (P57 billion) in one year,” he said.

[Translation: The MIAA remitted around P32 billion in dividends to the government in almost 30 years, compared to SMC’s P57 billion in one year.]

NAIA was privatized after SMC subsidiary New NAIA Infra Corporation won the bidding to maintain and operate the country’s aging main gateway.