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CIAC targets PHP1-B revenues in 2 years

MANILA: The Clark International Airport Corp. (CIAC) targets to breach the PHP1-billion mark in revenues within the next two years, president and chief executive officer Arrey Perez said.

CIAC eyes its revenues to hit PHP750 million this year, increasing by 10 percent from PHP680 million in 2023, Perez told reporters during a press conference on Monday.

‘Our target is about PHP750 million in revenues from our own existing projects, our existing contracts. But hopefully, we’ll hit the PHP1-billion mark by 2025 or 2026,’ Perez said.

Currently, the CIAC has 53 locators and 55 sublessees.

Perez said the CIAC has seven flagship projects within its 1,441-hectare property in Pampanga province, amounting to more than PHP34 billion with implementation period between 2026 and 2028.

The. projects are expected to boost CIAC revenues beyond the end of the Marcos administration in 2028.

‘The challenge with these joint venture projects is they have incubation period before we can earn money,’ Perez added.

The CIAC ch
ief is currently participating in the 2024 Singapore Airshow to pitch its flagship projects to potential foreign investors.

Source: Philippines News Agency