Aboitiz InfraCapital Takes 100% Ownership of Mactan-Cebu International Airport Operator

Aboitiz InfraCapital, Inc. (AIC), the Aboitiz Group's infrastructure arm, has formally taken over full control of Aboitiz GMR Megawide Cebu Airport Corporation (AGMCAC), the developer and operator of the award-winning Mactan-Cebu International Airport (MCIA).

AIC has finalized the exchange of previously issued P15.5 billion notes from AGMCAC's Megawide Construction Corporation and GMR Airports International B.V. for the remaining 66 and 2/3% plus one (1) share of AGMCAC’s outstanding capital stock. 

In a historic transaction in December 2022, AIC acquired a 33 and 1/3% minus one (1) share ownership in AGMCAC for P9.5 billion.

"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,” said Cosette V. Canilao, AIC President and Chief Executive Officer.

“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,” said Rafael M. Aboitiz, AIC Vice President and Head of Airports Business.

Since AIC joined the AGMCAC consortium, MCIA has remained true to its promise to improve passenger experience. This includes the Silent Airport project, which introduces a more calm terminal atmosphere, as well as Cebu Connect, which provides seamless and quick airport transportation.

Cebu Connect will shorten transfer times dramatically, from 90 minutes to 60 minutes for international connections and 60 minutes to 35 minutes for local connections, making travel more easy and enjoyable for MCIA travelers.

MCIA has also been recognized and accredited by international award-giving bodies such as the Airports Council International for its pioneering sustainability projects, such as the installation of Bridge-Mounted Equipment, which uses aircraft on-the-ground power solutions such as fixed-power units and pre-conditioned air services to reduce carbon emissions and offset fuel costs during passenger boarding and landing.

AGMCAC's acquisition is consistent with AIC's strategy of expanding its presence in the airport sector to help revitalize the country's tourism industry, as well as AIC's overall goal of accelerating the Philippines' economic recovery and growth through transformative infrastructure projects.

This comes after AIC recently inked a concession agreement to upgrade, operate, and maintain Laguindingan International Airport in Misamis Oriental, the country's sixth-busiest gateway, beginning in April 2025.