ABOITIZ InfraCapital, Inc. (AIC) is eyeing upgrades to Mactan-Cebu International Airport (MCIA) after acquiring Megawide Construction Corp.’s remaining equity stake, the corporate said on Thursday.
“With full ownership of AGMCAC (Aboitiz GMR Megawide Cebu Airport Corp.), we’re committed to taking the airport to recent 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 an announcement.
On Wednesday, Megawide announced that it had accomplished the divestment of its remaining equity stake in MCIA to AIC for P7.76 billion, allowing it to completely exit from the airport’s operations.
MCIA is taken into account the second-largest airport within the country after Ninoy Aquino International Airport.
It serves because the fundamental gateway to Central Visayas, serving greater than 11 million passengers per 12 months.
“MCIA is greater than just an airport; it’s a significant gateway to Cebu and the Philippines. Given the airport’s expansive growth, with international and domestic traffic growing by 35% and eight%, respectively, 12 months on 12 months, we are going to proceed to raise the airport and, thus, Filipino aviation by setting recent 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.
In line with AIC, MCIA continued to raise passenger experience, citing the transition of MCIA right into a silent airport and the introduction of “Cebu Connect,” which allows efficient and seamless passenger transfers.
The corporate’s acquisition of Megawide’s remaining stake in AGMCAC is a component of its goal to bolster its presence within the aviation industry, AIC said, adding that it also aligns with the corporate’s plan to assist speed up the country’s economic recovery through infrastructure projects.
AIC can be set to take over the operations and maintenance of the Laguindingan International Airport in Misamis Oriental in April 2025.
It also holds the unique proponent status for the P4.5-billion Recent Bohol-Panglao International Airport, which is currently undergoing a Swiss Challenge. — Ashley Erika O. Jose
