Mactan-Cebu Airport concession extension gets council nod

The concession agreement of the Mactan-Cebu International Airport (MCIA) has won a key government council’s approval for a 25-year extension, the Department of Transportation (DoTr) said. Acting Transportation Secretary Giovanni Z. Lopez told BusinessWorld that the Economy and Development (ED) Council approved the extension of MCIA concession by another 25 years. “We remain committed to developing MCIA as a world-class gateway for Cebu and the Philippines, supporting the country’s growth in travel, tourism, and business,” the parent group of the airport’s operator, Aboitiz InfraCapital, Inc. said via Viber. The ED Council formerly operated as the NEDA Board and took its current form after the National Economic and Development Authority (NEDA) was reorganized as the Department of Economic, Planning, and Development. The council is chaired by the President. The current concession holder is Aboitiz InfraCapital Cebu Airport Corp. The airport was originally developed and operated by the GMR-Megawide Cebu Airport Corp., which won the 25-year concession in 2014. In 2024, Aboitiz InfraCapital assumed full ownership of the airport after Megawide Construction Corp. divested its stake. “We look forward to receiving the formal advice from the government and working with the Department of Transportation and the Mactan Cebu International Airport Authority (MCIAA) on the next steps,” Aboitiz InfraCapital said. Aboitiz InfraCapital operates two more airports, Laguindingan International Airport in northern Mindanao and Bohol-Panglao International Airport. Last week, the ED Council said the MCIA concessionaire committed to provide nearly P15 billion in “capacity augmentation and capital investments.” For this year, Aboitiz InfraCapital set aside capital expenditure of P8.8 billion allocated mainly to expand its airport, water, and telecommunications tower businesses. — Ashley Erika O. Jose