MANILA, Philippines — The Civil Aviation Authority of the Philippines (CAAP) has remitted P1.2 billion to the national government, fulfilling its obligation as a government-owned and controlled corporation (GOCC).
The funds will be absorbed into the national budget to help finance state-run public services.
The remittance earned CAAP a place in the government's "Billionaires' Club," a distinction given to state corporations that remit at least P1 billion to the National Treasury.
CAAP Director General Raul del Rosario accepted the recognition from President Ferdinand Marcos Jr. during the Government-Owned and Controlled Corporations Day celebration in Malacañang on Wednesday, July 8.
"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.
CAAP remitted P5.4 billion in 2017; P6.2 billion in 2018; P3.5 billion in 2019; and P6 billion in 2020. The agency fell just short of the milestone in 2025 with a P971 million contribution.
