The Civil Aviation Authority of the Philippines (CAAP) has handed over P21.127 billion in remittances to the National Treasury from 2017 to 2020--a huge uptick when compared to its fiscal output in the years before the Duterte administration.
For the period mentioned, CAAP, an attached agency of the Department of Transportation (DOTr) remitted almost 20 times more than its total P1.362 billion remittance from 2008 to 2016 combined.
"This feat has solidified CAAP’s membership in the ‘Billionaires' Club,' an elite circle of government-owned and controlled corporations (GOCCs) that have remitted billions of pesos in dividends and remittances to the national government," read a statement from the DOTr over the weekend.
CAAP has consistently turned over billions worth of pesos in remittances every year since 2016, when President Duterte took over the helm in Malacañang.
The P21.127 billion is broken down annually as follows: P5.4 billion in 2017, P6.2 billion in 2018, P3.5 billion in 2019, and P6 billion in 2020.
In 2020 alone, CAAP Director General Jim Sydiongco reported that the agency was able to remit a total of P6 billion despite the aviation industry being among the hardest-hit sectors by the coronavirus disease (COVID-19) pandemic.
“The year 2020 has been a rough year for the aviation sector, to say the least. With nations closing borders, airlines facing bankruptcy, to employees getting laid off – we can say that the industry has been on life support. But that did not hinder us from performing our obligations," Sydiongco said.
"While we are greatly challenged by a raging global crisis, we remain committed to practice accountability, transparency, and good governance as mandated by the good Secretary ," he added.
Early last year, Secretary Tugade directed all state-owned corporations of the DOTr, including CAAP, to remit in advance their respective dividends and remittances to support government spending measures amid the COVID-19 crisis and other essential government projects.
The transportation chief commended the constant strong fiscal performance of CAAP.
“Since 2016, CAAP demonstrated how sound and judicious fiscal management should be done in the interest of the public. Now, whoever will take over the agency when we step down in 2022, I am sure that the achievements reached by CAAP, under the leadership of Director General Jim Sydiongco, will be the standard. CAAP has set the bar high,” Tugade said.