Thursday, December 3, 2020
Home Aviation Clark aviation complex locators enjoy 3-month rent deferral

Clark aviation complex locators enjoy 3-month rent deferral

Clark International Airport Corp. (CIAC) is deferring lease rental collection for Clark Civil Aviation Complex (CCAC) locators from April to June.

The move is in response to President Rodrigo Duterte’s appeal during his recent State of the Nation Address for government agencies to assist the business sector adversely affected by the coronavirus disease (COVID-19) pandemic.

“We currently have about 45 locators and we told them that they don’t have to right now pay their rentals for the months of April to June this year, and they also do not need to worry about paying any interests or penalties on delayed payments,” CIAC president Aaron Aquino said in a statement.

“We hope this policy will serve as a springboard for businesses here at the aviation complex to promptly recover from the sudden business disruption and income loss caused by the pandemic,” he added.

In addition to deferred collection of lease rentals during the quarantine period, Aquino said CIAC locators enjoy a 30-day grace period from the last due date of their rental payments or from the date of the lifting of the enhanced community quarantine (ECQ), modified ECQ, and general community quarantine, whichever is longer, without incurring interest.

After the grace period, locators may opt to pay their unsettled accounts through a 12-month installment scheme, he added.

“This means the amount of rentals accrued by locators during the ECQ, MECQ and GCQ can be equally amortized in twelve months following the end of the 30-day grace period, and again without interest or penalties,” Aquino said.

For outstanding accounts as of March 15, 2020 or old unpaid accounts prior to imposition of the ECQ, CIAC will grant a 90-calendar day grace period for payment, with no interest or penalty imposed from March 16 up to June 15.

Aquino said these policies will be applied while awaiting guidelines from the Department of Trade Industry on the request of both the Clark Development Corp. and the Bases Conversion Development Authority to allow the grant of full waiver on payment of lease rentals from April to June 2020.

The CCAC is managed by CIAC and is home to privately-run Clark International Airport, as well as the mixed-use business district Clark Global City and 45 locators in cargo and aviation-related businesses.

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