ABOITIZ InfraCapital, Inc. (AIC) is eyeing upgrades to Mactan-Cebu International Airport (MCIA) after acquiring Megawide Construction Corp.’s remaining equity stake, the company said on Thursday.
“With full ownership of AGMCAC (Aboitiz GMR Megawide Cebu Airport Corp.), we are committed to taking the airport to new heights, delivering exceptional passenger experience, and cementing its status as a world-class gateway,” AIC President and Chief Executive Officer Cosette V. Canilao said in a statement.
On Wednesday, Megawide announced that it had completed the divestment of its remaining equity stake in MCIA to AIC for P7.76 billion, allowing it to fully exit from the airport’s operations.
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