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MIAA remittance up 50% in 2018

May 22, 2019

The Manila International Airport Authority (MIAA) saw a solid fiscal performance last year as it remitted a record P3.42 billion in dividends to the national government.

In a statement on Tuesday, the MIAA said the amount is 50 percent higher than its remittance in 2017.

Given its fiscal autonomy, the agency is required to remit at least 50 percent of its earnings to the national government.

Arlene Britanico, MIAA assistant general manager for finance and administration, said the dividends were buoyed by “the increase in flights, passengers, additional concessions coupled with the

strict implementation of the Point Of Sale system, imposition of variable parking rates at terminal as well as opening of additional parking areas.”

“The gain on sale of MIAA property to DPWH for C5 extension largely contributed to the increase in MIAA’s net income for the year 2018,” she added in the statement.

Corporate income taxes remitted to the government also reached P5.4 billion.

“The MIAA remains committed in improving its fiscal management, as we also work on improving the infrastructure and operations of NAIA. Ultimately, our fiscal performance should resonate in our efforts in making each airport passenger satisfied beyond expectations,” MIAA General Manager Ed Monreal was also quoted as saying in the statement.

Credit belongs to : www.manilatimes.net

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