Recto fears that pandemic may slash Naia’s 2020 revenues by P10B
MANILA, Philippines — Senate President Pro Tempore Ralph Recto on Wednesday expressed worry that the current coronavirus disease (COVID-19) pandemic may cut the Ninoy Aquino International Airport’s (Naia) 2020 revenue by as much as P10 billion.
In a statement, Recto said that the huge cut in revenue is “barely enough for the country’s gateway to keep payroll and the lights on.”
The Senate leader said on a forecast of three percent increase in passenger traffic, Naia was projected to have gross revenue of P15.43 billion this year.
“But if the pandemic-imposed air travel restrictions will continue, a 60-percent cut on income will bring down its gross revenues to P6.05 billion, and to P4.53 billion if it will be a deeper 70-percent reduction,” Recto said.
At present, partial domestic and international flights have resumed operations in Naia as Metro Manila eased community quarantine restrictions in June.
Recto, who cited the Manila International Airport Authority’s (Miaa) corporate operating budget for 2020, said that Naia’s “real payroll” is at least P3.3 billion a year, including contracted services such as security and others, as well as P1.5 billion for water and power services.
“Kung sa current income lang kukunin ang mga ito, baka kapusin. It may have to dig into its reserves,” he said.
(If this will be taken from the current income, it may not be enough.)
The senator also said that Miaa’s “pre-COVID-19” income estimate was projected at P5.4 billion collection on passenger terminal fees, P4.1 billion on aeronautical fees, P2.8 billion on rentals, and the rest mostly on concessionaire fees.
“This year, it was expecting 21.7 million departing passengers, net of exempted individuals like OFWs, to pay the terminal fee. Then coronavirus landed, turning the airport into a ghost town,” he said.
Even parking fees at the country’s main gateway have been affected, according to the senator.
“Yung sa airport car parking na lang, ang expected na income was P418 million, or P1.15 million daily, pero pati ito naglaho na. Ang nakapark na lang yata doon mga stranded na kababayan natin,” he said.
(In the airport car parking, its expected income was P418 million, or P1.15 million daily, but that also has been affected. The vehicles that are currently parked there are from our stranded fellowmen.)
Recto added that terminal concessionaires like fast food outlets if they have not been closed yet, are “qualified for various rent forgiveness or deferral modes under government laws and rules.”
He also said that Naia shares its “profits” to the government, remitting at P2 billion in 2019.
““Baka P500 million na lang ito for this year, and that is a best-case estimate,” he said.
(But for this year, it may only be P500 million, and that is a best-case estimate.)
With this, the senator said that transportation officials would need to guide Naia.
“Tingin ko kaya pa naman. Pero kung walang full resumption, then it will have to change its call sign to ‘Need Assistance International Airport,’” he said.
(I think it could still recover. But if full operations won’t resume, then it will have to change its call sign to “Need Assistance International Airport.”)
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