‘Anti-competitive and highly suspect’

This was how an infrastructure-oriented thinktank described San Miguel Corp.’s surprise bid for the operations and maintenance of the Ninoy International Aquino Airport (NAIA) a few days after the Manila International Airport Authority (MIAA) revoked the original proponent status of the second private proponent for the NAIA rehabilitation project.

“The third private proponent could have waited until after the holidays to formalize its bid for the NAIA rehabilitation project. Instead, it only took a few days after the OPS revocation of the second private proponent for the third private proponent to publicize its bid for NAIA. How can this development not give rise to suspicions of collusion for the irregular revocation of the second private proponent’s OPS?”

This was the statement of Terry Ridon, Infrawatch PH convenor, as San Miguel Corporation firms up its bid for the maintenance of and operation of the country’s premiere international airport.

“This development gives the public the impression that the irregular OPS revocation was made to accommodate another private proponent to rehabilitate NAIA.”

Anti-competitive

Ridon said the SMC proposal should be scrutinized not only on financial and technical competency, but also on concerns of anti-competition, given that it has already been awarded the right to build its airport in Bulacan

“Controlling two airports within the Greater Capital Region may give rise to higher terminal and airport fees for passengers, airlines and service providers.”

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Ridon said an anti-competitive scenario gives rise to the possibility of stunting the development of NAIA in favor of SMC’s own New Manila International Airport (NMIA) in Bulacan.

“This runs roughshod over government’s entire multi-airport strategy in the Greater Capital Region calling for competition between the various airports of NAIA, Bulacan, Clark and Sangley for passengers, airlines and service providers. By controlling two airports, the third private proponent can drive its suppliers and customers away from NAIA in the event that the NMIA becomes operational.”

Scrutinize debt-equity ratio

Ridon said the third private proponent’s debt-equity ratio should similarly be subject to strict scrutiny.

“NEDA-ICC had concerns over the debt-equity ratio commitments of the second private proponent. The third private proponent should similarly be scrutinized on this point, as it has used far greater debt financing for its various big-ticket infrastructure projects.”

Ridon said the third private proponent had already undertaken high financial leverage to fund the development of its Bulacan airport costing at least P735-Billion and its Skyway expansion project.

Some proponents more equal than others

“Without strict scrutiny, the new proposal will clearly send a message to the world that while all proponents are equal, some proponents are certainly more equal than others.”