DAA signs contract for two airports in the Philippines
Aboitiz in accord with DAA to operate Bohol-Panglao and Laguindingan airports
DAA International’s other ventures abroad include Terminal 5 at King Khalid International Airport in Riyadh, Saudi Arabia.
DAA International, the consultancy arm of the Dublin airport owner, is advising a company controlled by one of the richest families in the Philippines on a takeover bid for two airports in the Asian country.
DAA confirmed this week that it has signed an agreement with Aboitiz InfraCapital, which is ultimately controlled by the Aboitiz family, who have a net worth of $5 billion (€4.4 billion) on the latest Forbes Rich List.
Aboitiz has signed an agreement, similar to preferred bidder status, with the government in the Philippines to upgrade, expand and operate the two regional airports, at Bohol-Panglao and Laguindingan.
The group submitted proposals to the Philippines government to invest in four airports, as part of President Rodrigo Duterte’s “Build Build Build” infrastructure development programme.
So far, Aboitiz has only signed deals with the DAA for the two airports, but it is understood the Irish company is hopeful of further extending the relationship.
Bohol-Panglao is a new airport not far from the tourist area of Panglao. The airport has capacity for 1.8 million passengers, but with scope to expand. Laguindingan airport is five years old and had two million passengers last year, although it was originally designed for 1.6 million, according to local reports.
Aboitiz says it will redevelop both airports. DAA will be responsible for devising and implementing much of the operational plans.
“We are very excited to be working with Aboitiz,” said Nick Cole, chief executive of DAA International.
“While the initial focus will be on these two regional airports, there is also scope to advise them on other airport projects in the Philippines. The Philippines represents a new environment with great potential for DAA.”
DAA International’s other ventures abroad include Terminal 5 at King Khalid International Airport in Riyadh, Saudi Arabia. It has also won contracts in Oman and the US.
DAA’s other commercially focused division operating abroad, ARI (Aer Rianta International), has operations in 12 countries, including locations across the Middle East, Europe and New Zealand.