A Lucio Tan-linked group signed a fresh long-term lease for its CRK maintenance complex, even as attention remains on a proposed Clark aviation hub.
A Lucio Tan-linked conglomerate has secured a fresh long-term lease for its sprawling 22.6-hectare maintenance, repair and overhaul complex at the country’s busiest airport, despite earlier buzz surrounding a proposed $400-million aviation hub in Clark.The agreement with the airport’s new private operator was finalized shortly after the expiration of the original 25-year concession.. Details of the new lease remain undisclosed..BCDA awards CRK’s P206.9M second runway design to Schema Konsult, Yooshin Engineering.. The parent company, meanwhile, continues to ride the aviation rebound, posting a record P2.63 billion in first-quarter revenues driven by rising passenger traffic, stronger catering demand and increased airport activity.. Ground handling operations remained a major revenue contributor.But not all skies are clear.Higher operating expenses and lease-related accruals tied to the previous airport deal weighed on quarterly earnings, trimming what would otherwise have been a stronger profit performance.
Lucio Tan aviation, CRK lease, maintenance repair overhaul, ground handling revenues, Clark aviation hub, BCDA second runway design