BIZ BUZZ: Naia to bid turboprops adieu

After the terminal reassignments at the Ninoy Aquino International Airport (Naia), the next bold reform that the San Miguel-led concessionaire will introduce to erase the “worst airport in the world” stigma is to move smaller, turboprop aircraft out of the Manila gateway.

We hear that those turboprop planes — like the ATRs and Bombardiers that typically carry 60 to 80 passengers operated by CebGo and PAL Express (the regional brands of Cebu Pacific and Philippine Airlines)—will have to be deployed to other airports starting next year.

Highly placed sources told Biz Buzz that New Naia Infra Corp. (NNIC), concessionaire of the privatized Naia airport, would soon notify airlines with turboprop planes in their fleet that the slots for these types of aircraft would be reduced by 30 percent by March next year.

Then by October 2025, all of those turboprop aircraft will no longer be allowed at Naia, which will henceforth make space for bigger jets.

A reliable source explained that since it’s the same slot that NMIC gives to an aircraft carrying just 60 passengers as a jet flying 320 passengers, there’s so much efficiency that could be unlocked if Naia gives all the slots to the bigger aircraft.

“When it’s a big plane and small plane [moving to and from the airport at around the same time], you need to separate longer. But if jet to jet, you can reduce separation; you can have more frequency of flights,’ one industry source said.

In air traffic control, separation refers to the required distance between aircraft flying on parallel courses in order to avoid collision.

By prioritizing bigger jets, Naia hopes to expand the destinations of aircraft flying out of Manila, boost international flights and attract more carriers.

To date, there are 84 turboprop flights flying out of Manila daily, translating to about 1.8 million passengers a year. If the same slots were given to bigger planes like Airbus A320, airport capacity would immediately increase by 9.8 million.

This latest move means that carriers will have to look for other gateways for their smaller regional planes, which will benefit Clark International Airport, for now the nearest alternative. —Doris Dumlao-Abadilla

RCBC taps Acevedo’s successor?

Just last month, we reported that veteran banker Eugene Acevedo may soon step down from his post as CEO of Rizal Commercial Banking Corp. (RCBC).

Five years after assuming the leadership position amid a highly turbulent time for the bank, it looks like Acevedo is indeed passing the reins to a trusted colleague.

In a regulatory filing on Tuesday, the country’s sixth largest bank announced the appointment of Reginaldo “Reggie” Anthony Cariaso as the company’s deputy CEO effective Jan. 1, 2025.

Currently RCBC’s head of operations, Cariaso has nearly three decades of experiences in institutional banking, special accounts management and investment banking, including equity and debt capital markets.

He was senior vice president and head of strategy at Ayala-led Bank of the Philippine Islands before moving to RCBC.

Let’s hope that a crisis won’t be welcoming Cariaso, much like how Acevedo started in 2019, or the aftermath of the Bangladesh Bank heist.

But with Cariaso’s experience, he is surely well-equipped to handle it.

RCBC has yet to confirm whether Acevedo will indeed retire by mid-2025, but we’re on the edge of our seats. —MEG J. ADONIS

Another one for Consunji

Tycoon Isidro Consunji isn’t done bagging multiple achievements this year just yet.

Days after closing his company’s takeover of Cemex Holdings Philippines—where he now serves as chair, apart from DMCI Holdings Inc. and Semirara Mining and Power Corp.—Consunji received an Honorary Doctorate in Management from the Asian Institute of Management (AIM).

The recognition celebrates his “exceptional management acumen and visionary leadership”—which Consunji joked was his “on-the-job training,” despite spending more than five decades in the industry.

“Business, at its core, is a tool—a powerful one. It can solve problems, create opportunities, and leave the world better than we found it,” he said in a speech addressing the AIM Class of 2024.

This is, of course, quite fitting for the businessman who also recently received the Most Distinguished Alumnus award from his alma mater, the University of the Philippines.

And what better way to celebrate Consunji, who was once an aspiring engineer? Now, he has built DMCI into one of the largest and, quite frankly, most favored developers in the country.

Could there be more for Consunji before the year ends?

—MEG J. ADONIS