Clark airport operator expects revenues to rise by 17%

LUZON International Premiere Airport Development (LIPAD) Corp. is projecting its revenues to rise by 17% this year as a result of an increase in passengers, its president said.

“The continuous upward trajectory of travel demand gives us a positive outlook for 2024,” LIPAD President and Chief Executive Officer Noel F. Manankil said in an e-mail to BusinessWorld.

LIPAD, the company that manages and operates the Clark International Airport, is anticipating a 42.9% increase in domestic passengers in 2024 to 915,168 from 640,381 in 2023.

International passengers will rise by 14% to 1.55 million from 1.36 million in 2023, Mr. Manankil said.

Overall number of passengers will increase by 23% to 2.47 million from the previous two million passengers.

This projected growth will propel LIPAD’s revenue to climb by 17%, Mr. Manankil said.

“Promoting (Clark International Airport) is based on a two-pronged approach — strengthening relationships with airlines and developing destination marketing initiatives to address the demand,” he said.

The Department of Tourism expects to attract almost eight million international arrivals for 2024. In 2023 alone, the Tourism department reported 5.45 million international visitors, surpassing the year’s target of 4.8 million.

This year, LIPAD is also expecting to facilitate about 18,883 domestic and international flights, up by 27% from the 14,867 flights recorded in 2023.

Broken down, 10,909 international flights are expected in 2024 while 7,974 flights will be domestic.

Clark International Airport was privatized in 2019 under a 25-year consortium agreement between the Bases Conversion and Development Authority and the private consortium Luzon International Premier Airport Development Corp.

Separately, Clark International Airport Corp.’s (CIAC) President and Chief Executive Officer Arrey A. Perez said 13 more new routes will be launched in 2024.

These new routes are Taipei, Bangkok, Hong Kong, Cheongju, Macau, and Narita for international flights, while the target for domestic flights are Coron, Bacolod, Iloilo, Davao, General Santos, Cagayan de Oro, and Puerto Princesa.

CIAC supervises and oversees the activities within the Clark Civil Aviation Complex including the Clark International Airport. — Ashley Erika O. Jose