Filinvest-led consortium takes over operations, maintenance of Clark airport

August 16, 2019
by Filinvest Development Corporation

CLARK CITY, Pampanga –The consortium led by the Filinvest Development Corp. and JG Summit Holdings has officially taken over the operations and maintenance (O&M) of the Clark International Airport.

In a turnover ceremony, the Department of Transportation (DOTr) and Bases Conversion Development Auhtority (BCDA) handed the certificate of notice to start O&M to Luzon International Premier Development Corp. (LIPAD).

LIPAD is the special purpose vehicle company established by the North Luzon Airport Consortium (NLAC) comprised of Gotianun-led Filinvest, Gokongwei’s JG Summit, Changi Airport Philippines Pte. Ltd., and Philippine Airport Ground Solutions Inc.

The company will takeover the operations and maintenance of Clark International Airport for a concession period of 25 years.

The project involves the operations and maintenance of the existing and the new passenger terminal buildings being constructed on the airport located in the Clark Special Economic and Freeport Zone in Angeles City, Pampanga.

The P5.61-billion contract for the O&M of the airport was awarded to the consortium on December 19.

The Clark airport was dubbed as a “hybrid” Public Private Partnership, wherein the government takes over the construction of a project and private firms may bid for the O&M.

“We thank the BCDA for the opportunity to create a new identity for Clark International Airport. We are working towards reinventing it to a world-class airport and meet the continued growth of international and domestic air travel,” LIPAD chief executive officer Bi Yong Chungunco said.

“We envision Clark International Airport to become the country’s premier gateway, by revolutionizing the way we travel and the way the world experiences the Philippines,” Chungunco said.

To date, Clark airport covers 19 domestic and 12 international destinations serving 734 weekly flights from a total of 17 airlines.

LIPAD is working towards expanding the network of Clark airport to more domestic and international destinations, according to Chungunco.

Source: GMA News

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