Dhaka: Aboitiz InfraCapital Inc. (AIC), the infrastructure arm of the Aboitiz Group led by tycoon Sabin Aboitiz, will take over the operations and maintenance of Bohol-Panglao International Airport (BPIA) in Filipines from tomorrow (June 1).

The $81.18-million no-contest bid marks a major step in AIC’s 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.

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.

-B