Aboitiz InfraCapital, Inc. (AIC), the infrastructure arm of the Aboitiz Group, has officially assumed full ownership today of Aboitiz GMR Megawide Cebu Airport Corporation (AGMCAC), the developer and operator of the award-winning Mactan-Cebu International Airport (MCIA).
AIC completed the exchange of the previously issued PhP15.5 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.
AIC acquired a 33 and 1/3% minus one (1) share stake in AGMCAC for PhP9.5 billion in a landmark deal last December 2022.
“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 continued to live up to its commitment to elevate passenger experience. This includes the introduction of a more serene terminal atmosphere via the Silent Airport initiative and seamless and efficient airport transfers via Cebu Connect.
Under Cebu Connect, transfer times will be reduced significantly – from 90 minutes to 60 minutes for international connections and from 60 minutes to 35 minutes for domestic connections – making travel more seamless 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 like the installation of Bridge-Mounted Equipment, which makes use of aircraft on-the-ground power solutions such as fixed-power units and pre-conditioned air services to reduce carbon emissions and offset fuel costs upon passenger boarding and arrival.
AGMCAC’s acquisition is aligned with AIC’s strategy of strengthening its presence in the airport sector to help further revitalize the country’s tourism industry, and support AIC’s broader goal of helping accelerate the Philippines’ economic recovery and growth through transformative infrastructure projects.
This also comes after AIC recently signed the concession agreement to upgrade, operate, and maintain Laguindingan International Airport in Misamis Oriental, the country’s sixth-busiest gateway, with turnover in April 2025.
