Filipino tycoon set to take over airport from June 1

Manila: A Filipino tycoon's company is set take over the operations and maintenance of Bohol-Panglao International Airport (BPIA) starting June 1, 2025, following its $81.18-million no-competition bid.

This marks a major step for Aboitiz InfraCapital Inc. (AIC), under the Aboitiz conglomerate led by billionaire Sabin Aboitiz, in the midst of its aggressive expansion into the Philippine aviation sector.

In a statement, AIC confirmed it is "on track" to assume full control of Bohol-Panglao International Airport (IATA code: TAG | ICAO: RPSP), which opened in November 2018 on Panglao Island in Bohol, in central Philippines.

It replaced the Tagbilaran Airport to handle Bohol's increased tourism-related passenger traffic. 

AIC won the 30-year concession to operate and maintain BPIA following a ₱4.53-billion proposal in November, as per the Public-Private Partnership (PPP) Center.

BPIA Upgrade, expansion, maintenance

The contract involves upgrades, expansion, and maintenance of the airport within a 30-year period from the start of the turnover.

The move marks a fresh landmark for AIC and supports the Philippine government's efforts in advancing infrastructure within the country.

It also boosts Aboitiz's airport portfolio, which already includes Mactan-Cebu International Airport and Laguindingan International Airport.

“Our vision is to transform the New Bohol Airport into a prime example of excellence and efficiency for regional gateways,” Aboitiz was quoted earlier as saying.

“The modernisation of BPIA is not just about upgrading infrastructure — it’s about enabling the continued rise of Bohol as a vibrant tourism and economic hub in the Visayas,” said AIC president and CEO Cosette Canilao on Wednesday.

Capacity goals

The ₱4.53-billion ($81.18 million) project to modernise BPIA includes the installation of state-of-the-art aviation systems and comprehensive upgrades to both airside and landside facilities. 

AIC plans to increase the airport’s passenger capacity from 2 million to 2.5 million annually within two years. By 2030, that number is expected to climb to 3.9 million.

Other airports

The takeover comes on the heels of AIC’s acquisition of Laguindingan Airport, which was officially turned over to the company on April 26.

AIC's entry into BPIA and Laguindingan follows its ₱25-billion acquisition in 2022 of Mactan-Cebu International Airport from a Megawide-GMR consortium. 

The deal was finalised through a share subscription and transfer agreement, cementing Aboitiz InfraCapital's presence in the country’s growing aviation infrastructure sector.