MANILA, Philippines (The Adobo Chronicles, Manila Bureau) – Just hours after Transportation Secretary Jaime Bautista said that the Marcos Administration plans to privatize the Ninoy Aquino International Airpot (NAIA), two of the Philippines’ largest corporations — San Miguel Corporation and SM Corporation — submitted bids to operate and manage the Philippines’ premier international airport.

Bautista said, however, that the assets of the airport will remain with the government. Only the operation and maintenance will be privatized.

Naming rights are not considered an asset so both companies’ bids include renaming NAIA to their respective corporate names.