CLARK International Airport Corp. (CIAC) on Monday said its net income last year rose by 72.3% to P438.75 million from P254.72 million a year earlier as it booked higher revenues.
CLARK International Airport Corp. on Monday said its net income last year rose by 72.3% to P438.75 million from P254.72 million a year earlier as it booked higher revenues.CIAC Officer-in-Charge Darwin L. Cunanan said the company also recorded a higher profit margin in 2022 at 58% from 46% in 2021, allowing it to pay bank loans and remit dividends to the government.
The loans, which include funds borrowed from the Land Bank of the Philippines and the Development Bank of the Philippines, were paid during the last quarter of 2022. These were used for airport expansion infrastructure projects. “CIAC’s thrust now is to strengthen our commercial, engineering and corporate management teams in developing a globally-competitive service and logistics center at the aviation complex surrounding the airport and contribute to the national economy,” Mr. Cunanan said.
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