Michael Daniel, managing director of Singapore-based consultancy firm Aviation Insight told CNBC he saw San Miguel’s proposal as the most appealing.
“They seem to have a better understanding of the challenges not only from a capacity issue but they also talk about some of the economic benefits for the general population as well. When you look at it holistically what could be better for the country I would gravitate towards San Miguel,” said Daniel.
Aviation Insight’s Daniel added that Manila airport was in “dire need” of improving their operations.
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“Because of the added capacity, it adds more stress to the safety measures that you have to have for the airport in terms of air traffic management too,” he said.
Other analysts also told CNBC that the airport’s shortcomings were holding back the Philippines economic growth potential.
“From a regional perspective, we believe Manila is at a significant disadvantage as a result of the constrained airport and failed/delayed infrastructure initiatives meant alleviate bottlenecks…In contrast to Manila, Hong Kong and Singapore each have world-class international airports, meanwhile Malaysia and Thailand continue to invest heavily into their chief international gateways,” said Michael Beer, vice president of Asia Pacific Transportation and Infrastructure atCiti Equity Research.
“Significant capacity additions will be required if the government has any hope of achieving its lofty tourism growth targets, particularly with the new casinos being build there by Melco Crown and others likely to further stimulate demand,” he added.
San Miguel has a vested interest in improving Manila’s airport as it owns 49 percent of Philippines Airlines and improved facilities in the airport would benefit the airline.
The company plans to fund the airport’s construction in exchange for a 35-year operations contract that would generate a 7-8 percent return on investment, the Wall Street Journal reported.
Philippines President Benigno Aquino III and senior officials will ultimately decide which proposal to accept and a public tender will be launched in 2016.
Official estimates expect passenger traffic at Ninoy Aquino International Airport to hit 101 million by 2040.
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