By Ashley Erika O. Jose, Reporter
ABOITIZ InfraCapital, Inc. (AIC), the infrastructure arm of the Aboitiz group, is raising its capital expenditure (capex) to P8.8 billion this yr from P4.1 billion in 2025 to fund expansion across its airports, water, and telecommunications tower businesses.
“This can support growth and operational initiatives across our airports, water and Unity Digital Infrastructure, Inc.,” Aboitiz InfraCapital President and Chief Executive Officer Cosette V. Canilao said during Aboitiz Equity Ventures, Inc.’s (AEV) annual stockholders meeting on Monday.
Aboitiz InfraCapital is the infrastructure arm of listed conglomerate Aboitiz Equity Ventures, Inc., which also has interests in power, banking, food, infrastructure and artificial intelligence.
In a media release, AEV said it’s earmarking P8.8 billion for infrastructure, water, and airports investments this yr.
“While there are external headwinds, we expect the airport platform to stay a key contributor to growth for AIC this yr,” Ms. Canilao said.
Aboitiz InfraCapital operates three of the country’s seven privatized airports: Mactan-Cebu International Airport, Laguindingan International Airport and Bohol-Panglao International Airport.
Ms. Canilao said airport operations proceed to get well, driven by improving passenger traffic, strong operating performance and increasing industrial activity, despite geopolitical tensions within the Middle East.
She said Mactan-Cebu International Airport recorded its highest monthly passenger traffic in January this yr, with first-quarter traffic exceeding expectations.
“The primary quarter traffic was ahead of expectations. That said, we’re closely monitoring the Middle East situation. If the conflict persists and fuel prices remain elevated, we may even see some impact from early June onward,” Ms. Canilao said.
She added that any prolonged escalation within the Middle East may lead to higher airfares, route adjustments and reduced flight frequencies.
While some airlines have reduced flight frequencies, Dubai-based Emirates has resumed its each day Cebu service, helping offset the impact, she said.
Aboitiz InfraCapital can also be exploring opportunities to expand its airport portfolio.
“We’re at all times looking out for brand spanking new opportunities so as to add to our portfolio of airports where we will add more value. So, we’re planning, but we all know that there are very limited airports that may go to market. We hope that the federal government will even take a look at the opposite airports,” Ms. Canilao said.
Individually, the corporate said it’s working to finalize a strategic partnership with Global Infrastructure Partners, a US-based infrastructure fund manager owned by BlackRock, Inc.
Aboitiz Equity Ventures earlier said the deal involves the acquisition of a 40% stake in Aboitiz InfraCapital by Global Infrastructure Partners. Once accomplished, the corporate expects to leverage the fund’s international network.
Global Infrastructure Partners manages greater than $183 billion in infrastructure assets across sectors reminiscent of energy, transport, digital infrastructure and water, and holds stakes in major assets including London’s Gatwick Airport and Australia’s Port of Melbourne.