Clark Int’l Airport Corp. exceeds 2024 revenue goal

THE Clark International Airport Corp. (CIAC) said that it had exceeded its full-year revenue target by the end of the third quarter.

“For revenue, our target was achieved as of the end of the (third quarter), at 109%,” CIAC said in a statement.

It added that 2024 target revenue increased was 24% higher than the previous year’s. CIAC did not provide detailed numbers.

The airport operator had set a revenue target of P750 million for 2024. CIAC said that revenue growth would likely be driven by its plans to attract more locators within its aviation complex.

In 2023, the government-owned and -controlled corporation booked a 3% increase in revenue amounting to P680 million.

“It is because of the continuous efforts of the new business venture unit in attracting more locators,” CIAC President and Chief Executive Officer Joseph P. Alcazar told reporters last week.”

Mr. Alcazar added that potential locators are still inquiring about operating in CIAC operated properties.

In the year to date, CIAC has 48 locators, with plans to draw in 16 more this year and another five next year.

“It is a mix between small and big locators. There’s manufacturing and there are small ones like bagel production and Korean products,” he said.

“There are also those focused on aviation,” he added.

CIAC has seven flagship projects in the pipeline including the $152-million National Food Hub, the $376-million Clark Entertainment and Events Center, the $31-million Urban Renewal and Heritage Conservation Program, and the $21-million CRK Direct Access Link. — Adrian H. Halili