The aircraft maintenance provider, a joint venture between Tan’s MacroAsia and Germany’s Lufthansa Group, faces a steep lease rate jump from P65 to P710 per square meter under new rates from the San Miguel-led NAIA operator.
The lease expires at the end of August, with MacroAsia confirming on Tuesday “ongoing negotiations for the renewal of MacroAsia’s PEZA ecozone lease in NAIA where LTP is a locator, which will likely result in higher rental costs for the ecozone and LTP.”
LTP runs a 22.6-hectare facility with five hangars, servicing domestic and foreign carriers, and employs over 3,000 skilled workers. In 2024, it contributed about 40 percent of MacroAsia’s earnings.
Management’s view
MacroAsia enters the second half with a strong balance sheet and diversified revenue base, buoyed by expected passenger growth after NAIA’s 2024 privatization despite higher lease and fee rates.
“Our operations continue to deliver strong results, supported by sustained growth across aviation, food, and water segments, as well as higher earnings from associates,” said MacroAsia president and chief operating officer Eduardo T. Luy.
First half results
MacroAsia’s net income for the first half of 2025 rose 15 percent to P771.1 million excluding one-offs, though down 8 percent from the prior year’s boosted results.
Revenues grew 9 percent to P4.81 billion, associate earnings surged 75 percent to P611 million, and assets climbed 15 percent to P15.36 billion. Non-aviation units contributed 23 percent of group revenues, with water operations up 7 percent to P364 million.
—Edited by Miguel R. Camus
