Filipino business magnate poised to assume control over the airport starting from June 1.
Bohol-Panglao International Airport Expansion to Enhance Visayas Tourism and Economy
Manila - Aboitiz InfraCapital Inc. (AIC) is set to take over the operations and maintenance of Bohol-Panglao International Airport (BPIA) starting June 1, 2025. This transition comes after AIC successfully secured a no-competition bid amounting to Php 4.53 billion (approximately $81.18 million) for the airport's modernization and expansion project.
The Aboitiz conglomerate, under the leadership of billionaire Sabin Aboitiz, is making significant strides in the Philippine aviation sector with this move. AIC, a subsidiary of the group, will manage BPIA for a 30-year concession period, also overseeing operations at Mactan-Cebu and Laguindingan International Airports.
Plans for BPIA include expanding the passenger terminal, installing modern aviation systems, and upgrading airside and landside facilities. The initial goal is to increase annual passenger capacity from 2 million to 2.5 million within two years, with a long-term vision of reaching 3.9 million passengers annually by 2030.
This development is expected to have a positive impact on Visayas tourism as the modernized and expanded airport becomes better equipped to handle larger volumes of international and domestic travelers. Bohol, with its attractions such as the Chocolate Hills, tarsiers, and pristine beaches, is a premier tourist destination. Improved airport facilities and experiences are anticipated to further boost tourist arrivals and encourage longer stays.
Economically, the project is designed to stimulate growth in Bohol and the wider Visayas region. The region's economy grew 6.6% in 2023, largely driven by tourism-related sectors. The airport expansion should continue to support provincial priorities in sustainable tourism, climate-smart agriculture, and micro-enterprise growth. Improved air connectivity is also likely to attract more investment and generate employment opportunities in the region.
In summary, the BPIA expansion serves as a catalyst for tourism and economic growth in Bohol and the Visayas. By increasing capacity and modernizing facilities, the airport aims to reinforce Bohol’s status as an economic and tourism hub.
The modernization and expansion of Bohol-Panglao International Airport, overseen by Aboitiz InfraCapital Inc., is set to revolutionize the local business landscape in the aerospace industry, as the expanded airport is expected to attract more domestic and international travelers, thereby stimulating growth in the tourism sector. The expanded airport will not only enhance the tourism industry but also boost the finance sector in the Visayas region, as improved air connectivity is likely to attract more investment and generate employment opportunities. This development aligns with the conglomerate's strategic goals in the business sector, aiming to make significant strides in the Philippine aviation industry.
