The Manila International Airport Authority (MIAA), which operates Ninoy Aquino International Airport (NAIA), has remitted P3.42 billion in dividends for 2018 to the national government, its highest payment in history.
The 2018 dividend is also 50% higher than its 2017 remittance, which was then MIAA’s highest recorded dividend payment in the last two decades.
MIAA, as a government-owned and -controlled corporation (GOCC), is mandated to remit at least 50% of its annual net income to the national coffers after it was granted fiscal autonomy during the term of former President Corazon C. Aquino.
On top of the P3.42 billion in dividends, MIAA likewise remitted P5.4 billion in corporate income taxes and national government share in the authority’s gross revenues and departing passengers’ fee for 2018.
“I am elated that the MIAA has once again exceeded its last fiscal performance. My congratulations to the leadership and ranks of MIAA for your sterling numbers. The Filipino people stand to benefit from your good work,” Transportation Secretary Arthur Tugade said in a statement.
MIAA general manager Ed Monreal urged the staff of the country’s main gateway to continue improving fiscal management and allocation of resources to ensure effective and efficient delivery of airport services at the NAIA.
“The MIAA remains committed in bettering its fiscal management, as we also work on improving the infrastructure and operations of NAIA. Ultimately, our fiscal performance should resonate in our efforts in making each airport passenger satisfied beyond expectations,” Monreal said.
“Through the guidance of our strong-willed Secretary Tugade, we push ourselves to achieve higher standards of public service. Sec. Art would [hammers into] us that as public servants, it is our duty to serve our countrymen with excellence and efficiency. Our people deserve better fiscal management of government operations, so services become better, too, for the comfort of the Filipino,” Monreal added.
With its strong fiscal showing in 2018, MIAA hopes to land a spot again in the “Billionaires’ Club,” an elite circle of GOCCs contributing billions of pesos in dividends to the national government.
