In a statement posted on the NNIC website, the San Miguel-led consortium stressed that despite recent adjustments in parking rates, parking is not a significant source of profit for the company.
The recent increase in parking rates, effective October 1, 2024, aims to address airport congestion and improve traffic flow around NAIA.
NNIC explained that the hike, particularly for long-term or overnight parking, was necessary to encourage better utilization of airport facilities.
The new rates raised short-term parking fees marginally, from P40 to P50 for the first two hours, but overnight parking rates saw more a substantial adjustment from P300 to P1,200 per 24-hour cycle.
NNIC noted that 82.16% of parking revenues go to the government, leaving the company with only 17.84%.
The company expects a drop in revenues from overnight parking due to reduced usage following the increase, further supporting the argument that parking is not a profit center.
The new rates are designed to free up approximately 1,800 parking spaces, alleviating traffic congestion and improving airport access.
NNIC also highlighted that the changes align with the government’s mandate under MIAA Administrative Order 1, series of 2024.
While physical improvements at NAIA are still underway, the parking adjustments are part of the long-term plan to enhance passenger experience at the airport, the company said.
