JG Summit Holdings is eyeing at least four Philippine airport development projects under the government’s Public-Private Partnership program.
The Philippine publicly listed company, which owns the Philippines’ leading budget airline Cebu Pacific, is looking at the terms of reference for the P4.6-billion Puerto Princesa Airport, P8.7-billion Laguindingan Airport in Cagayan de Oro, the P6.6-billion Legazpi Airport in Bicol, and expansion of the Cebu-Mactan Airport terminal building costing P2.5 billion.
The Aquino administration earlier announced it will privatize the operation and maintenance of NAIA Terminal 3 and the Diosdado Macapagal International Airport in Clark as well as other airport development projects, including the P9.9-billion New Zamboanga Airport; the P6.9-billion Panglao Airport; P5.5-billion upgrade of the Laoag International Airport; P4.7-billion Alaminos Airport development; and the P3-billion City Air Terminal Development for Clark International Airport.
Meanwhile, the Office of the Philippine President sees no problem with the sale of flag carrier Philippine Airlines after reports came out that PAL chair Lucio Tan may be considering selling the airline.
“Considering that PAL is our national brand, the additional investments would improve the branding of our national carrier. Additional investments would mean improved services,” presidential spokesman Edwin Lacierda said in a press briefing.
PAL reported a loss of $39.4 million for the second quarter of its fiscal year, or from July to September 2011, due to high fuel costs. The airline had expected average fuel cost at $120 per barrel but this has risen to $135 per barrel.
For its current fiscal year, PAL expects to post losses due to high fuel costs and the strike of employees. Last September, PAL employees went on strike in protest of the company’s outsourcing plans. The strike resulted in crippled operations and stranded thousands of passengers.
Motion Blur Of Moving Escalator by Ikuni http://www.freedigitalphotos.net/images/view_photog.php?photogid=3287
