The Manila International Airport Authority cancelled an agreement with NAIA Consortium to redevelop and operate Ninoy Aquino International Airport.
The consortium, which included Resorts World Manila investor Alliance Global Group and Filinvest Development Corp., said they would not be involved in the $2 billion project. The collapse followed a letter from the NAIA Consortium requesting the airport authority to change the deal due to the impact of the coronavirus pandemic and concerns over financing. The organization also complained about the possibility of a substantial property tax assessment to build a people mover, according to Inside Asian Gaming.
The authority said no.
The original arrangements called for a 15 year term to run the new airport after it opened in 2024. Ninoy Aquino International Airport has garnered a reputation as one of the worst airports in Asia.
The MIAA has two other groups interested in developing the airport, a project expected to boost travel from 31 million a year to 65 million as a spur for the country’s tourism industry
