In a stock exchange filing on Wednesday, MacroAsia said Lufthansa Technik Philippines—its joint venture with the Lufthansa aviation group—signed the lease contract with San Miguel Corp.-backed NNIC, although details of the agreement were not immediately disclosed.
The deal ends months of negotiations after the company’s previous 25-year lease expired in August 2025, forcing the facility to operate under a temporary month-to-month arrangement while talks continued.
Lease reset after privatization
Earlier disclosures showed lease talks could sharply increase rental rates as airport charges were reset under NNIC following the privatization of Ninoy Aquino International Airport in September 2024.
MacroAsia previously disclosed that lease rates could rise to around P710 per square meter from roughly P64.84 per sqm under the old agreement signed in 2000.
Strategic aviation hub secured
Lufthansa Technik Philippines operates a sprawling 22.6-hectare maintenance, repair and overhaul (MRO) facility inside the NAIA complex employing nearly 4,000 workers.
The facility services major aircraft models including the Airbus A320, A330, A380 and Boeing 777 for both local and international airline clients.
It also operates five aircraft hangars capable of handling up to six widebody and three narrowbody aircraft simultaneously, alongside nine apron parking slots.
Key earnings driver for MacroAsia
Lufthansa Technik Philippines has become MacroAsia’s largest profit contributor amid booming global demand for aircraft maintenance and repair services.
MacroAsia booked around P1.61 billion in net income in 2025, with about P1.34 billion coming from its share in Lufthansa Technik Philippines earnings.
The company’s other businesses, including inflight catering and ground handling, account for most of its revenues but operate on thinner margins.
—Edited by Miguel R. Camus
