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It also is less than an hour's flight from Mactan–Cebu International Airport, which is a gateway to central Philippines for international tourists. Dubbed as the first eco-airport in the Philippines and the country's green gateway, the airport is located at a 230-hectare (570-acre) [5] site in Barangay Tawala in Panglao.
With an estimated total cost of ₱1.66 billion ($34.2 million), the 150-hectare airport hub is the result of a 50-year joint venture agreement between Cagayan Economic Zone Authority (CEZA) and Cagayan Land Property Development Corporation (CLPDC) with the private consortium contributing 58.3% in equity or ₱966 million while CEZA's share is 41.7% or ₱691 million. [3]
Regulation of airports and aviation in the Philippines lies with the Civil Aviation Authority of the Philippines (CAAP). The CAAP's classification system, introduced in 2008, rationalizes the previous Air Transportation Office (ATO) system of airport classification, pursuant to the Philippine Transport Strategic Study and the 1992 Civil Aviation Master Plan. [1]
Clark caters mainly to low-cost carriers because its landing fees have been lower ever since former president Gloria Macapagal Arroyo called for Clark to replace NAIA as the Philippines' primary airport. [7] NAIA is operating beyond its designed capacity of 35 million passengers, clogging air traffic and delaying flights. [8]
Palawan, which includes Coron, is a UNESCO Biosphere Reserve.. Tourism is an important sector for the Philippine economy.The travel and tourism industry contributed 8.6% to the country's GDP in 2023; [1] this was lower than the 12.7% recorded in 2019 prior to the COVID-19 lockdowns. [2]
The airport project also aims to boost economic activities, specifically of the Cagayan-Iligan Corridor, and expects to serve as the gateway to Northern Mindanao. The approved cost of the airport project is US$167.09 million or ₱7.853 billion. [9] The cost was duly approved by the National Economic and Development Authority Board on August 30 ...