MIAA notes higher income in Duterte admin; remits P3.42-B dividend

The Manila International Airport Authority (MIAA), which manages the country’s main gateway, the Ninoy Aquino International Airport (NAIA), on Tuesday noted that its income has been increasing since the start of the Duterte administration, remitting a total of PHP3.42 billion dividends to the government, the highest in MIAA’s history.

Last year’s dividend is 50 percent higher than in 2017.

MIAA, in a statement, said that its dividend payments have significantly increased since President Rodrigo Duterte assumed office in 2016.

The MIAA is required to remit at least 50 percent of its annual income to the national government.

Arlene Britanico, MIAA assistant general manager for Finance and Administration, told the Philippine News Agency (PNA) that the increasing income is due to increase in flights, passengers, additional concessions coupled with the strict implementation of the Point Of Sale system, imposition of variable parking rates at terminal as well as opening of additional parking areas.

She added that the sale of MIAA property to DPWH for C5 extension have largely contributed to the increase on its net income in 2018.

MIAA have remitted the dividend to the Bureau of National Treasury last May 15.

Meanwhile, apart from the dividend, MIAA said it has also remitted PHP5.4 billion for the corporate income taxes and national government’s share in gross revenues for the year 2018.

MIAA General Manager Ed Monreal said the management is committed on improving the fiscal management while also improving the infrastructure and operations of NAIA.

MIAA’s fiscal performance must resonate the management’s efforts to make every passenger satisfied, he remarked.

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MIAA notes higher income in Duterte admin; remits P3.42-B dividend