THE Ninoy Aquino International Airport (NAIA) is now under new private management, the Department of Transportation (DoTr) announced on Saturday. On Saturday, the New NAIA Infrastructure Corp. (NNIC), a conglomerate led by San Miguel Corp. (SMC) and its chairman Ramon Ang, took over airport operations, according to the DoTr. "Faced with a tall order of modernizing the airport's facade, capacity, operations, and maintenance, the NNIC takes on the task of elevating the NAIA to international standards beginning [September 14]," the DoTr's statement read on Saturday. On Friday night, a simple turnover ceremony with officials from the DoTr, Manila International Airport Authority (MIAA), SMC and NNIC was held at the NAIA Terminal 3. "A world-class airport means more jobs, more tourists, and a much stronger and prosperous Philippines," Ang said during the ceremony. NNIC General Manager Lito Alvarez said it was now their turn to "carry it forward to the finish line." Also during the ceremony, Transportation Undersecretary Roberto Lim expressed his support to the NNIC, saying this would be a "precursor" to a "world-class and modernized" airport. "Once the airport's modernization has been completed, its capacity will increase from 35 million passengers to 62 million passengers and an uptick in air traffic movement from 40 per hour to 48, and improve service quality and compliance with International Civil Aviation Organization (ICAO) standards," the DoTr's statement read. Meanwhile, the Philippine government expects to rake in P900 billion in revenues during the 15-year concession agreement, which is also extendable by a decade. The Transportation Department also said the airport's rehabilitation would generate 58,000 Filipino jobs. Apart from the terminal rehabilitation, other improvements include airport parking bays, additional parking slots, installation of "world-class" systems and technology, additional food, beverage and retail options, and transportation connectivity. However, as for the terminal reassignments, there is no terminal change yet for airlines amid the transition to new management. "AirAsia Philippines still operates domestic flights at Terminal 2 and international flights at Terminal 3," AirAsia Philippines, which is due to be reassigned to NAIA Terminal 4, said Thursday. "We share the vision of the New NAIA Infrastructure Corp. to enhance the airport experience, putting guest comfort and convenience at the heart of what we do," the airline added.