The Civil Aviation Authority of the Philippines (CAAP) has turned over P1.2 billion to the national government, meeting the remittance requirement imposed on government-owned and controlled corporations.
The amount will be folded into the national budget, where it will help bankroll public services delivered by the state.
Reaching that figure qualified CAAP for the government’s “Billionaires’ Club,” a designation extended to state corporations whose remittances to the National Treasury hit at least P1 billion.
Director General Raul del Rosario accepted the recognition from President Ferdinand Marcos Jr. on Wednesday, July 8, at the Government-Owned and Controlled Corporations Day celebration in Malacañang.
“While we continue to modernize the country’s aviation sector and uphold the highest standards of safety and efficiency, we are equally committed to ensuring that our financial performance contributes to national development and ultimately benefits every Filipino,” del Rosario said.
Billion-peso remittances are not new for the agency. CAAP posted P5.4 billion in 2017 and P6.2 billion in 2018, followed by P3.5 billion in 2019 and P6 billion in 2020.
The 2025 cycle broke that pattern. CAAP’s contribution that year settled at P971 million, short of the P1-billion threshold.
