 The Iloilo International Airport project was inaugurated by President Gloria Macapagal @-@ Arroyo on January 25 , 2004 , and construction work on the new airport started on April 14 that year . The original expected deadline of completion was June 2007 , although this was moved to the first quarter of 2007 . A joint venture between the Taisei Corporation and the Shimizu Corporation of Japan served as the contractor for the project , with Phil @-@ Japan Airport Consultants , Inc. managing the project and serving as the government 's consultant to the project . The project was 75 percent complete as of July 14 , 2006 and fully complete by March 18 , 2007 . While construction was completed ahead of schedule , the airport was constructed over budget , with a final cost of around 8 @.@ 8 billion pesos ( $ 201 million ) caused by increases in the cost of civil works and consultancy services . 
