The San Miguel Corporation (SMC) on Friday bagged the privatization of the Ninoy Aquino International Airport (NAIA).

In a press briefing, Transportation Secretary Jaime Bautista said that the SMC-SAP won the NAIA Public-Private Partnership (PPP) project after it offered 82% of revenue if it was granted a license to operate the airport under a privatization deal.

The SMC consortium, which also includes RLW Aviation Development, RMM Asian Logistics and South Korea's Incheon International Airport, was awarded of 15-year contract to manage and upgrade the country's main gateway.

In 2023, a study by an international vacation rental company showed that NAIA ranked eighth in the worst airports in Asia based on passenger queueing time.

BREAKING: San Miguel Corporation (SMC), nanalong bidder para sa privatization ng Ninoy Aquino International Airport | DZRH News pic.twitter.com/3SWkSTMBOy

— DZRH NEWS (@dzrhnews) February 16, 2024