Thursday, 23 February 2012

P1-B loan will allow Clark airport to expand services


JOEY PAVIA
Business Mirror
  
CLARK FREEPORT-—The P1-billion loan obtained by the Clark International Airport Corp. (CIAC) on Tuesday will give it the leeway needed for the expanded operations of two airlines by March and some 1.7 million passengers this year.  
The CIAC and Land Bank of the Philippines (LBP) signed on Tuesday a P1-billion loan facility for the Phase II expansion of the passenger terminal and other support infrastructure of the Clark International Airport (CIA).

CIAC President and CEO Victor Jose I. Luciano and LBP President and CEO Gilda Pico led the signing of the P1-billion loan in simple ceremonies held at the Land Bank of the Philippines building in Malate, Metro Manila.

In a statement, Luciano said the loan will also be used to improve other support infrastructure facilities such as the navigational equipment vital for the operations of the airport. The remaining funds would be utilized for CIAC’s working capital.

The P1-billion loan will also be used for the expansion of the Phase II of the passenger terminal to meet the demands of passenger growth due to the increase of international and domestic flights this year.

Luciano said that CIAC will start on March 5 the bidding of the Phase II expansion of the P360-million passenger terminal that would further accommodate the growing number of passengers at the airport.

Luciano said the domestic operations of Air Asia Philippines begins on March 28 and AirPhil Express on March 29.

Air Asia will commence Clark-Davao and Clark-Kalibo domestic flights and AirPhil Express will start Clark-Davao, Clark-Kalibo, Clark-Cebu and Clark Puerto Pincesa flights.

“In January alone this year, there have been a 37-percent growth of our international flights at the airport, and we expect this to further grow due to the slated domestic flights,” he said.

Luciano said their projection of P1.76 million passengers this year was “just based” on a 50-percent load factor of airlines operating at Clark. They are led by Cebu Pacific Air which was chiefly responsible for generating 767,109 passengers in 2011.

Luciano expressed confidence that the CIA will have more than 5 million passengers by 2015.


Read morehttp://www.businessmirror.com.ph/home/regions/23604-p1-b-loan-will-allow-clark-airport-to-expand-services

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