Aboitiz InfraCapital, Inc. (AIC), the infrastructure arm of the Aboitiz Group, has been awarded the opportunity to upgrade, operate, and maintain the Laguindingan Airport in Misamis Oriental. The Department of Transportation (DOTr) and the Civil Aviation Authority of the Philippines (CAAP) issued the official Notice of Award (NOA) to AIC on September 30, 2024. The signing of the concession agreement is anticipated by the end of October 2024.
This milestone marks a significant addition to AIC’s growing portfolio of airport projects, further strengthening its influence in the Philippine aviation industry. As Mindanao’s second busiest airport, Laguindingan serves as a vital transportation hub, and its modernization is seen as crucial for boosting tourism and economic growth in Northern Mindanao.
“We are thrilled to embark on this project and work with stakeholders to transform Laguindingan Airport into a world-class facility,” shared Cosette V. Canilao, AIC President and CEO. “This step is pivotal for our Airports Platform, and we remain enthusiastic about exploring further opportunities with other regional airports.”
The planned PHP 12.75 billion investment will focus on upgrading and expanding the airport’s facilities over a 30-year concession period. This comprehensive development includes the renovation of the passenger terminal, installation of necessary equipment, and improvements to both airside and landside infrastructure. These enhancements are designed to improve passenger experience, optimize operations, and meet the highest safety standards, aligning with AIC's goal of creating globally competitive airports.
AIC’s venture into Laguindingan Airport follows its success in operating the award-winning Mactan-Cebu International Airport. Rafael Aboitiz, Vice President and Head of Airports Business for AIC, expressed his excitement: “Building on our success in Cebu, we are confident that our expertise will transform Laguindingan into a catalyst for regional socio-economic progress through job creation, tourism, and increased connectivity."
Aboitiz InfraCapital’s involvement in Laguindingan is part of a broader strategy to leverage its expertise in infrastructure and technology, driving sustainable growth in the Philippine aviation sector. By modernizing key regional airports, AIC continues its mission of enhancing connectivity and fostering economic development throughout the country.