Philippine banking giants BDO Unibank, Bank of Commerce, Asia United Bank, China Banking Corp., Security Bank, and the Development Bank of the Philippines secured about P80 billion ($1.4 billion) in project financing for San Miguel Corp.’s landmark privatization of Manila’s Ninoy Aquino International Airport (NAIA).
The newly reconfigured pickup system at Terminal 1 aims to simplify passenger pickups for private vehicles, ride-hailing services, and taxis. This development is expected to ease congestion at one of NAIA’s busiest terminals while improving the overall arrival experience.
The San Miguel Corp.-led consortium’s venture with the Philippine government to privatize the Ninoy Aquino International Airport (NAIA) has been awarded “transport deal of the year” by the United Kingdom-based Project Finance International (PFI).
The initiative comes as NAIA experienced record-breaking passenger numbers in 2024, with 50.1 million travelers — a 10.43-percent increase from 2023. The expanded fleet is designed to address the demands of growing traffic while maintaining high service standards.
NAIA achieved an average on-time performance of 83.36 percent, with a high of 88.35 percent recorded on Dec. 31 — the best on time performance since NNIC assumed management.
The complaints, received by NNIC, involve the service provider responsible for baggage porterage and retrieval, the private operator of Manila’s main aviation gateway said on Dec. 29, 2024.
The project is meant to address persistent power issues that have plagued the airport due to outdated infrastructure, lack of modernization, and inadequate capacity.
The hub, located within Terminal 3’s multi-level parking building, spans 6,000 square meters. It features 401 parking slots, 18 loading bays, and designated lanes for transport network vehicle service operators like Grab Philippines, aiming to reduce curbside congestion, improve traffic flow, and enhance passenger convenience.