] posted an FY23 net income of P1.07 billion, up 132% from its FY22 net income of P0.46 billion, lifted by a 74% increase in in-flight catering revenues to P3.98 billion and a 53% increase in ground handling and aviation services to P3.14 billion. Both increases were themselves driven by the broader increase in both domestic and international flight activity.
” MAC’s management team said that it expects the privatization of NAIA later this year to “ultimately result in more flights and passengers for the main hub”, and while “costs of doing business in the airport may go up under a new management setup”, MAC said that “such costs are often passed on to clients based on open-book pricing practices.
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