Aboitiz InfraCapital Inc. (AIC) said Wednesday it expects to start upgrading the Bohol-Panglao International Airport in Panglao by 2025.
The company said it received the notice of award (NOA) for the airport from the Department of Transportation and Civil Aviation Authority of the Philippines on Nov. 18, 2024. The concession agreement’s official signing is expected to occur by end-2024.
The Bohol-Panglao International Airport is the second successful airport PPP project awarded by the government to AIC this year via an unsolicited bid after Laguindingan International Airport.
This also marks AIC’s third gateway after the award-winning Mactan-Cebu International Airport in Lapu-Lapu City, Cebu and Laguindingan-International Airport in Laguindingan, Misamis Oriental.
AIC said the expansion of its airports portfolio into Visayas, where the Aboitiz Group traces its roots, solidifies its position as a key player in the Philippine aviation sector.
“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 chief executive Cosette Canilao.
The proposed P4.53-billion project for Bohol-Panglao International Airport, the country’s ninth-busiest gateway, involves expanding the passenger terminal building, installing essential equipment and modernizing airside and landside facilities within a 30-year concession period.
AIC said it would begin introducing operational efficiencies and investments to increase the capacity to 2.5 million passengers per annum (mppa) within one to two 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, the company said.
Bohol-Panglao International Airport is part of AIC’s broader strategy to develop and manage infrastructure assets that enhance connectivity across the Philippines.
As a unit of the Aboitiz Group techglomerate, AIC is leveraging its expertise in infrastructure and technology to drive sustainable growth in the country’s aviation sector.
“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.
AIC Airports consists of MCIA, the country’s second-busiest gateway and whose Terminal 2 holds a prestigious 4-star rating from globally renowned aviation consultancy Skytrax, and soon, Laguindingan International Airport, the country’s sixth-busiest gateway, when AIC is scheduled to take over by April 2025.
