ABOITIZ InfraCapital, Inc. (AIC) is eyeing upgrades to Mactan-Cebu Worldwide Airport (MCIA) after buying Megawide Development Corp.’s remaining fairness stake, the corporate mentioned on Thursday.
“With full possession of AGMCAC (Aboitiz GMR Megawide Cebu Airport Corp.), we’re dedicated to taking the airport to new heights, delivering distinctive passenger expertise, and cementing its standing as a world-class gateway,” AIC President and Chief Govt Officer Cosette V. Canilao mentioned in an announcement.
On Wednesday, Megawide introduced that it had accomplished the divestment of its remaining fairness stake in MCIA to AIC for P7.76 billion, permitting it to completely exit from the airport’s operations.
MCIA is taken into account the second-largest airport within the nation after Ninoy Aquino Worldwide Airport.
It serves as the primary gateway to Central Visayas, serving greater than 11 million passengers per 12 months.
“MCIA is extra than simply an airport; it’s a significant gateway to Cebu and the Philippines. Given the airport’s expansive development, with worldwide and home visitors rising 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 new requirements for what it means to be a Filipino model of airport administration and operations,” mentioned AIC Vice-President and Head of Airports Enterprise Rafael M. Aboitiz.
In accordance with AIC, MCIA continued to raise passenger expertise, citing the transition of MCIA right into a silent airport and the introduction of “Cebu Join,” which permits environment friendly and seamless passenger transfers.
The corporate’s acquisition of Megawide’s remaining stake in AGMCAC is a part of its purpose to bolster its presence within the aviation business, AIC mentioned, including that it additionally aligns with the corporate’s plan to assist speed up the nation’s financial restoration by means of infrastructure tasks.
AIC can be set to take over the operations and upkeep of the Laguindingan Worldwide Airport in Misamis Oriental in April 2025.
It additionally holds the unique proponent standing for the P4.5-billion New Bohol-Panglao Worldwide Airport, which is presently present process a Swiss Problem. — Ashley Erika O. Jose
