PAVI completes negotiations to operate Iloilo Intl Airport for P21B+; awaits NEDA approval

Prime Asset Ventures, Inc. (PAVI), led by the Villar Group, has completed negotiations for its unsolicited proposal to operate and maintain Iloilo International Airport with a total cost exceeding P21 billion.

The Public-Private Partnership (PPP) Center confirmed that PAVI's proposal will now be submitted to the National Economic and Development Authority (NEDA) for final approval before contract awarding can proceed.

Jeffrey I. Manalo, Deputy Executive Director of the PPP Center, stated that the project must first go through a review process by NEDA before securing final approval.

The PAVI proposal includes the expansion of the passenger terminal building and construction of an apron for aircraft parking and refueling.

PAVI's initiative aims to enhance the management and operational capabilities of Iloilo International Airport, with similar unsolicited proposals also submitted for Puerto Princesa International Airport.

The Department of Transportation anticipates privatizing both Iloilo and Puerto Princesa airports by next year as part of broader infrastructure plans to boost regional connectivity.