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A glance at govt's windfall from SMC's NAIA takeover
The Philippine Star
|February 26, 2024
The winning bid of the San Miguel Corp.-led consortium for the Ninoy Aquino International Airport (NAIA) translates to a government revenue share of P911.1 billion over a 25-year period, significantly higher than the other bidders’ revenue share offer of between P342.1 billion and P416.9 billion over the same period.
This means the government gained roughly P494 billion to P569 billion from the SMC SAP & Co. Consortium’s offer over the 25-year period, according to a comparison of the bid submissions obtained by The STAR.
The P911.1 billion revenue from SMC SAP & Co. comprises P831.1 billion representing 82.16 percent share to the government plus upfront of P30 billion and fixed annuities of P50 billion.
The revenue to be shared with the government excludes passenger service charges (PSC) or terminal fees which are bound to increase when the private sector takes over.
This story is from the February 26, 2024 edition of The Philippine Star.
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