STATE-RUN aviation firm Clark International Airport Corp. (CIAC) reported it had surpassed its 2024 revenue target, achieving 109 percent by the end of the third quarter (Q3).
STATE-RUN aviation firm Clark International Airport Corp. reported it had surpassed its 2024 revenue target, achieving 109 percent by the end of the third quarter .CIAC President Joseph Alcazar said the company not only exceeded this year's financial goals but also outperformed total revenues in 2023.
It posted a 145-percent spike in earnings before interest, taxes, depreciation, and amortization .Although exact figures were not disclosed, Alcazar said that CIAC's achievements were substantial enough to land among the top government-owned and -controlled corporations in the country, as certified by the Governance Commission for GOCCs.Its revenue target this year was 24-percent higher compared to 2023. In its 2023 financial report, CIAC said that it had earned P690.57 million.Alcazar said CIAC's income growth was driven by a strategic focus on attracting new locators and expanding its business ventures. 'In terms of locators coming in, there are still a lot. There are still many inquiries,' he pointed out.To date, CIAC hosts 48 locators, with plans to add an additional 16 by yearend and another five in 2025. These span a range of industries, including manufacturing, food production, and aviation-related businesses.In addition, Alcazar said, CIAC aims to draw more investors within its facilities at the Clark Freeport Zone in Pampanga, including two new proposed projects, the National Food Hub and the Clark World Convention and Events Hub.He added there was room for further expansion to boost the region's economic growth and strengthen Clark's position as a leading aviation and business hub in the Philippines.On Nov 22, CIAC successfully passed its first surveillance audit conducted by German independent inspection service provider TÜV Rheinland, retaining its ISO 9001:2015 certification, indicating its management systems comply with international legal, regulatory and contractual standards.As the aviation and land development arm of the Bases Conversion and Development Authority, CIAC oversees the operations of the Clark International Airport and manages the 2,367-hectare Clark Aviation Capital, which is envisioned to become the country's premier logistics, commerce and sustainable urban development center.
Airport Operator Beats Revenue Goal
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