The Manila International Airport Authority (MIAA) remitted a total of P13.9 billion dividends to the National Government (NG) from 2016 to 2019, its biggest in the last two decades prior to this administration.
From 1996 to 2015, MIAA’S remittance totaled P11,149,527,394.
In 2018, MIAA made its record-breaking fiscal performance when it remitted P3.42 billion in dividends to the NG.
The MIAA’s 2018 dividend payment to the national coffers was the highest in its history.
This was double its 2017 remittance of P2.2 billion, the highest recorded dividend payment made by the agency in the last two decades, at the time.
The MIAA is mandated to remit at least 50 percent of its annual net income to the NG after it was granted fiscal autonomy two decades ago.
Since President Rodrigo Duterte took office in 2016, the MIAA dividend payments have significantly increased.
With its strong fiscal performance, the MIAA has solidified its position in the “Billionaire’s Club,” an elite circle of government-owned and controlled corporations (GOCCs) contributing billions of pesos to the national coffers.
“MIAA’s performance in four years show consistent good fiscal management,” according to Department of Transportation (DOTr) Secretary Arthur Tugade.
“We remain committed in bettering our fiscal management, improving the infrastructure and operations of the NAIA,” says MIAA General Manager Ed Monreal.
“Ultimately, our fiscal performance should resonate in our efforts in making each airport passenger satisfied beyond expectations,” the GM added.