A CONSORTIUM led by seven Filipino conglomerates and a US-based airport operator has submitted an unsolicited offer to upgrade the Ninoy Aquino International Airport (NAIA) for more than P100 billion.

In a statement on Thursday, the Manila International Airport Consortium (MIAC) — comprised of Aboitiz InfraCapital Inc., AC Infrastructure Holdings Corp., Asia's Emerging Dragon Corp., Alliance Global-Infracorp Development Inc., Filinvest Development Corp., JG Summit Infrastructure Holdings Corp., and Global Infrastructure Partners — said the unsolicited proposal aimed to rehabilitate and upgrade the NAIA to meet growing air traffic demand.