MANILA -- A consortium led by the Gokongwei and Gotianun families and Singapore's Changi said Monday it received formal notice from the government to operate and maintain the Clark International Airport.
Under the 25-year concession agreement, LIPAD Corp said it would operate and maintain the existing and new terminals of Clark, which functions as an alternative to Manila's congested Ninoy Aquino International Airport.
LIPAD Corp is a special purpose vehicle of the North Luzon Airport Consortium comped of Gotianun-led Filinvest Development Corp, the Gokongwei's JG Summit Holdings Inc, Philippine Airport Ground Support Solutions Inc, and Changi Airports Philippines, a wholly-owned subsidiary of Changi Airports International.
JG Summit also operates the Philippines' largest airline, Cebu Pacific.
"The consortium is also set to develop the commercial assets, operate and maintain project facilities and fit-out the new terminal," LIPAD Corp said in a statement.
Four new international airlines are expected to launch flights out of Clark "in the next few months," said LIPAD Corp CEO Bi Yong Chungunco.
Clark Airport serves 17 domestic and 12 international destinations, which translates to 734 weekly flights from 17 airlines, LIPAD said.