Pnoy government lost 73 billion pesos after selling 6 international airports to cronies

A post lambasting President Benigno Aquino for selling our airports to private entities has been doing the rounds online.

In a Facebook post shared more than 2700 times as of Thursday morning, netizen Elgin Castillo Lazaro III posted a meme containing an estimated figure of the revenue by our international airports generate annually before President Aquino privatized them one after the other.

Mr. Lazaro made use of the 2014 NAIA passenger data and the travel tax rate to come up with the amount to the tune of 73.3 billion pesos.

In 2014, 30, 932,993 passengers passed through NAIA. He multiplied it to 2730 pesos (travel tax) to come up with 73.3 billion pesos. The 2730 figure is a breakdown of the airport travel tax and the terminal fee.

According to Mr. Lazaro, the travel tax amounts to 1620 pesos; the airport terminal fee amounts to 750 pesos. Get the sum of the two numbers and you will come up with 2730 pesos.

In the post, Mr. Lazaro alleged that the beneficiaries of the airport privatization were his cronies namely Henry Sy, Aboitiz family, Ayala family and the Lucio Tan consortium.

But here’s the bad news: the taxpayers are paying for the operation and maintenance of the privatized airports while the cronies are receiving the income.

Mr. Lazaro pointed out that the airport privatization initiative was the product of the much heralded PPP(Public Private Partnership) flagship of the Pnoy government.

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  1. Danny yu June 23, 2016
  2. MORGANA June 23, 2016
  3. james June 24, 2016

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