Skip to content
Subscriber Only

Tycoons Team Up for $6.7 Billion Upgrade of Aging Manila Airport

  • Seven conglomerates form consortium to transform airport
  • Upgrade to boost potential capacity to 100 million passengers
Ninoy Aquino international airport in Manila.

Ninoy Aquino international airport in Manila.

Photographer: Dondi Tawatao/Getty Images AsiaPac
Updated on

Seven Philippine conglomerates, including those led by billionaires John Gokongwei and Lucio Tan, submitted a proposal to modernize and expand the capital’s 70-year-old airport in a plan that will potentially triple capacity and help ease congestion.

Ventures of Aboitiz Equity Ventures Inc., Ayala Corp., LT Group Inc. along with Alliance Global Group Inc., Filinvest Development Corp., JG Summit Holdings Inc. and Metro Pacific Investments Corp. filed the unsolicited proposal Feb. 12 to the Department of Transportation, according to a joint statement Tuesday. The offer by the group will be subject to a public challenge under local rules.