JG Summit Ready to Join San Miguel for Airport Project

Gokongwei-led JG Summit Holdings Inc. (PSE: JGS), owner of dominant budget airline Cebu Air Inc. (PSE: CEB), is open to partnering with San Miguel Corp. (PSE: SMC) should the government approve the latter’s proposed $10-billion international airport in Manila Bay, company president Lance Gokongwei said. The planned airport, which was recently presented to President Aquino but still requires various approvals from several departments, was aimed at decongesting Manila’s Ninoy Aquino International Airport (NAIA).

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Source: Philippine Daily Inquirer

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