Aboitiz InfraCapital, Inc. (AIC), the infrastructure arm of the Aboitiz Group, is set to further expand its footprint in the Philippine aviation sector after being awarded the concession to upgrade, operate, and maintain Bohol-Panglao International Airport (TAG | RPSP). The Department of Transportation (DOTr) and Civil Aviation Authority of the Philippines (CAAP) issued the Notice of Award (NOA) on 18 November 2024 with operations and upgrades slated to begin in 2025.
This development marks AIC’s second airport public-private partnership (PPP) project secured this year, following its successful bid for Laguindingan International Airport (CGY | RPMY) in Misamis Oriental. The signing of the Bohol-Panglao concession agreement is expected by the end of 2024.
The PHP4.53 billion project includes significant upgrades to the airport, currently the ninth-busiest gateway in the Philippines. AIC plans to expand the passenger terminal building, install advanced equipment, and modernize both airside and landside facilities over a 30-year concession period. Initially, operational efficiencies and investments will boost the airport’s capacity from 2 million to 2.5 million passengers annually within 1-2 years. By 2030, the capacity is projected to reach 3.9 million passengers per year.
Cosette V. Canilao, President and CEO of Aboitiz InfraCapital, emphasized the project’s economic and tourism benefits, stating, “Our commitment to modernizing the Bohol-Panglao International Airport underscores our vision of creating world-class infrastructure that enables progress in key growth areas of the Philippines. This project is not just about upgrading facilities but also about boosting economic opportunities, enhancing tourism, and improving connectivity in the Visayas region, and we are excited to be a part of this initiative.”
The addition of Bohol-Panglao International Airport strengthens AIC’s growing airport portfolio, which includes the award-winning Mactan-Cebu International Airport (MCIA | CEB | RPVM) and the soon-to-be-managed Laguindingan International Airport (CGY | RPMY). AIC’s expertise in infrastructure and technology continues to elevate the standard of Philippine airports, aligning with its goal of creating globally competitive gateways.
“Bohol-Panglao International Airport is a fast-growing gateway to one of the Philippines’ most emerging and iconic tourism destinations, and we are honored to play a role in elevating its stature. Through this project, we aim to bring the same level of excellence and innovation that we are demonstrating with Mactan-Cebu International Airport,” said Rafael Aboitiz, Vice President and Head of AIC Airports Business.