Philippine Airlines (PAL) president Ramon Ang, who is also the president of San Miguel Corp., has revealed that he wants to build a new airport for Manila.
The new airport would occupy a 2,000 hectare site, Ang told reporters on the sidelines of PAL Holdings’ shareholder meeting. Ang declined to disclose the site of the planned airport, but says it is within a 15 min. drive of Manila’s upscale business district of Makati. Ang says the proposed airport will have a new terminal building and eventually four runways.
The plan is to be presented to the country’s president, Benigno Aquino III, early next year. If approved, construction of the terminal may start in 2013, with help from South Korean contractors, says Ang. He adds that the terminal will be completed in three years.
San Miguel owns 49% of publicly-listed PAL Holdings and has management control of the airline. San Miguel is one of the Philippines’ largest conglomerates, and in recent years it has been selling its food and beverage businesses and investing in infrastructure projects in the Philippines.
Ang wants to build a new airport because the current one, Manila’s Ninoy Aquino International Airport, is subject to slot constraints and is congested. PAL in August signed an order for 34, 10 Airbus and 10 Airbus -300s. First deliveries for the A321s and A330s are expected in the second half of 2013.
PAL posted net income of 489 million pesos ($12 million) in the April-June quarter, compared to a loss of 475 million pesos a year earlier. Revenue rose 6% to 20.8 billion pesos from 19.6 billion pesos.