MANILA -- A $2 billion project to expand the Philippine capital's airport is on the verge of collapse as the novel coronavirus pandemic wreaks havoc in the aviation industry, prompting calls for the government to reconsider its policy of not offering financial backing for big building projects.
A consortium of seven conglomerates, including Ayala, Cebu Air parent JG Summit Holdings and Philippine Airlines affiliate LT Group, said the government has rejected its revised terms for the Ninoy Aquino International Airport expansion project under a public-private partnership scheme.
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