Aboitiz InfraCapital Inc. (AIC)—which has been building an airport portfolio amid the resurgence of travel demand—is set to beef up the annual passenger capacity of Bohol-Panglao International Airport by 500,000 within two years of its takeover by 2025.
In a statement on Wednesday, the infrastructure arm of the Aboitiz Group said it would expand capacity to 2.5 million passengers per annum (mppa) from the current 2 mppa within one to two years of its airport operations.
By 2030, the conglomerate—which also has investments in telecommunication towers and data centers—will further increase Panglao airport capacity to 3.9 mppa.
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The Aboitiz Group received the notice of award to operate and maintain the Bohol airport from the Department of Transportation and Civil Aviation Authority of the Philippines on Nov. 18. Signing of the concession agreement is scheduled before the end of the year.
“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,” AIC vice president and head of airports business Rafael Aboitiz said.
The P4.53-billion airport project, which has a 30-year concession period, covers the construction of a new passenger terminal and installation of additional equipment and facilities.
“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,” AIC president and CEO Cosette Canilao said.
Securing this major airport project is six years in the making. AIC obtained the original proponent status in 2018 for its unsolicited proposal.
The project underwent a comparative challenge this year to invite rival bids this month. No other proponent threw hat in the ring, giving AIC an automatic win.
The Aboitiz Group, prior to this, bagged the P12.75-billion Laguindingan International Airport contract in October. It seeks to improve connectivity to northern Mindanao, which includes Misamis Oriental, Misamis Occidental, Lanao del Norte, Bukidnon and Camiguin, among others.