Fraport has welcomed the decision of the Supreme Court of the Philippines in Manila of September 8 by which the government of the Philippines has been obliged to pay compensation to the PIATCO project company totalling US$510m. This amount takes into account a previous advance payment of about US$59m made in 2006 by the Philippine government to PIATCO (including interest as of December 31, 2014) in connection with the Terminal 3 project at Manila airport.
At the time of writing, the decision was not final, however. It remains to be seen whether the parties involved will seek any legal recourse against the ruling.
