The Manila International Airport Authority (MIAA) remitted P13.9 billion in dividends to the national government from 2016 to 2019, surpassing its total remittances in the last 20 years.
Based on MIAA data, the remitted dividends in 2016 to 2019 amounted to P13,900,904,299.33. This is higher than the combined remittances from 1996 to 2015 which only totaled P11,149,527,394.99.
The MIAA made its record-breaking fiscal performance in 2018 when it remitted P3.42 billion in dividends to the government – the highest in history, exceeding by more than 50% its 2017 remittance of P2.2 billion.
Dividends from the government-owned and controlled corporation have reportedly continued to increase during the term of President Rodrigo Duterte. The MIAA is mandated to remit at least 50% of its annual net income to the government after it was granted fiscal autonomy two decades ago.
“MIAA’s performance in four years shows consistent good fiscal management. My congratulations to the men and women of the MIAA, with the leadership of GM [General Manager] Ed Monreal, for your sterling numbers. The Filipino people stand to benefit from your good work,” Transportation Secretary Arthur Tugade said.
“The MIAA remains committed [to] bettering its fiscal management, as we also work on improving the infrastructure and operations of the NAIA. Ultimately, our fiscal performance should resonate in our efforts in making each airport passenger satisfied beyond expectations,” Monreal said. – (MIAA/AG-jlo)
