Aboitiz InfraCapital, Inc. (AIC), the infrastructure arm of the Aboitiz Group, has officially taken full control of Aboitiz GMR Megawide Cebu Airport Corporation (AGMCAC), the company that manages the Mactan-Cebu International Airport (MCIA | CEB | RPVM). This milestone positions AIC to expand its role in Philippine aviation, enhancing MCIA’s infrastructure and passenger services.
The completion of the acquisition saw AIC exchanging previously issued PHP15.5 billion in notes with AGMCAC’s former shareholders, Megawide Construction Corporation and GMR Airports International B.V., securing the remaining 66.67% plus one share in AGMCAC. AIC initially acquired a 33.33% stake in AGMCAC in December 2022, marking its strategic entry into Cebu’s bustling airport sector.
With full ownership, AIC is poised to transform MCIA further into a world-class airport, an ambition echoed by AIC President and CEO Cosette V. Canilao. “Completing the acquisition of AGMCAC is a significant step forward in our vision to enhance the Philippines’ airport infrastructure. With full ownership of AGMCAC, we are committed to taking the airport to new heights, delivering exceptional passenger experience, and cementing its status as a world-class gateway,” Canilao said.
MCIA plays a crucial role as the gateway to Cebu and the Visayas region. Passenger traffic has grown significantly, with international traffic up by 35% and domestic by 8% year-on-year. AIC Vice President and Head of Airports Business Rafael M. Aboitiz affirmed their goal to elevate the Filipino airport experience, “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.”
Since joining the AGMCAC consortium, AIC has implemented several initiatives to improve passenger experience. The Silent Airport initiative, for instance, provides a more relaxed terminal atmosphere by minimizing overhead announcements. Additionally, the Cebu Connect service has streamlined airport transfers, reducing connection times from 90 to 60 minutes for international flights and from 60 to 35 minutes for domestic ones.
MCIA has also earned international recognition for its sustainable practices, including the installation of Bridge-Mounted Equipment that provides ground power and air conditioning for parked aircraft, cutting carbon emissions and fuel costs.
The acquisition aligns with AIC’s strategic focus on expanding its airport sector presence, a key part of its mission to boost the Philippine tourism industry and support national economic growth through infrastructure development. Recently, AIC signed a concession agreement to upgrade, operate, and maintain Laguindingan International Airport in Misamis Oriental. Set to take effect in April 2025, this new project underscores AIC’s commitment to further enhancing the country’s transportation infrastructure.