ABOITIZ InfraCapital, Inc. (AIC) is eyeing upgrades to Mactan-Cebu International Airport (MCIA) after acquiring Megawide Construction Corp.’s remaining equity stake, the company said on Thursday.
“With full ownership of AGMCAC (Aboitiz GMR Megawide Cebu Airport Corp.), we are committed to taking the airport to new heights, delivering exceptional passenger experience, and cementing its status as a world-class gateway,” AIC President and Chief Executive Officer Cosette V. Canilao said in a statement.
On Wednesday, Megawide announced that it had completed the divestment of its remaining equity stake in MCIA to AIC for P7.76 billion, allowing it to fully exit from the airport’s operations.
MCIA is considered the second-largest airport in the country after Ninoy Aquino International Airport.
It serves as the main gateway to Central Visayas, serving more than 11 million passengers per year.
“MCIA is more than just an airport; it’s a vital gateway to Cebu and the Philippines. Given the airport’s expansive growth, with international and domestic traffic growing by 35% and 8%, respectively, year on year, we will continue to elevate the airport and, thus, Filipino aviation by setting new standards for what it means to be a Filipino brand of airport management and operations,” said AIC Vice-President and Head of Airports Business Rafael M. Aboitiz.
According to AIC, MCIA continued to elevate passenger experience, citing the transition of MCIA into a silent airport and the introduction of “Cebu Connect,” which allows efficient and seamless passenger transfers.
The company’s acquisition of Megawide’s remaining stake in AGMCAC is part of its goal to bolster its presence in the aviation industry, AIC said, adding that it also aligns with the company’s plan to help accelerate the country’s economic recovery through infrastructure projects.
AIC is also set to take over the operations and maintenance of the Laguindingan International Airport in Misamis Oriental in April 2025.
It also holds the original proponent status for the P4.5-billion New Bohol-Panglao International Airport, which is currently undergoing a Swiss Challenge. — Ashley Erika O. Jose