Philippine conglomerate Aboitiz Group's infrastructure arm Aboitiz InfraCapital (AIC) was awarded the rights to operate the Bohol-Panglao International Airport.
Philippine conglomerate Aboitiz Group's infrastructure arm Aboitz InfraCapital (AIC) was awarded the rights to operate the Bohol-Panglao International Airport.
AIC received a Notice of Award (NOA) on November 18, 2024 from the Department of Transportation and Civil Aviation Authority of the Philippines for the Public-Private Partnership project to upgrade, operate, and maintain the airport in Panglao, Bohol for a 30-year concession period starting in 2025.
According to AIC, the signing of the concession agreement is expected to take place by the end of 2024.
The PHP 4.53 billion (~USD $77.3 million) project will involve the expansion of the passenger terminal building at Bohol-Panglao International Airport – the ninth busiest airport in the Philippines - the installation of essential equipment, and the modernization of the airport's airside/landside facilities.
In a statement, AIC said: “AIC will begin introducing operational efficiencies and investments to increase the capacity to 2.5 million passengers per annum (mppa) within 1-2 years of operations from the existing 2 mppa. Further capacity expansions, expected to be completed by 2030, will raise the gateway’s capacity to 3.9 mppa. These investments will enhance the passenger experience, improve operational efficiency, and elevate the airport’s safety and security standards, aligning with AIC’s vision of creating globally competitive airports that showcase the best of the Philippines.”
"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," said Aboitiz InfraCapital President and CEO Cosette V. Canilao.
The Bohol-Panglao Airport is the third Philippine airport that is part of AIC's portfolio. AIC currently operates and maintains the Mactan-Cebu International Airport and recently was awarded and signed for the rights to operate and maintain the Laguindingan International Airport in Laguindingan, Misamis Oriental. AIC is scheduled to take over the operations of Laguindingan Airport by April 2025.
"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 AIC Vice President and Head of Airports Business Rafael Aboitiz.
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