Upgrading and expansion
In August 2013, the Project Development and Monitoring Facility Board had approved for the revision of the operations and maintenance of the airport. The operations and maintenance were already approved for funding but were revised to include the construction of a new terminal to the winning PPP bidder. The Department of Transportation and Communications was tasked to construct the terminal along with other airside civil works, air navigational facilities, landside building works, as well as other facilities. The revision is part of maintaining the airport on par with ICAO standards. [22]
According to the Civil Aviation Authority of the Philippines and airport manager Jose Bodiongan, the airport would become the “busiest regional transportation hub” with the installation of the runway lights, navigation equipment (required for nighttime flights) and the purchase of two new fire trucks. [23]
An expansion of the passenger and cargo terminals and parking lot are being planned. With the large South Korean presence in Cagayan de Oro, the regional Department of Tourism is eyeing flights from Busan to Cagayan de Oro via Singapore or a direct route from Busan to Cagayan de Oro to further bolster the tourism industry in the region. [24] The CAAP was set to initially approve Busan-Cagayan de Oro and Seoul-Cagayan de Oro flights by the fourth quarter of 2015, but these did not come to fruition. [25]
On February 26, 2019, Aboitiz InfraCapital Inc. was granted by CAAP an Original Proponent Status (OPS) for its unsolicited proposal for the airport's upgrade, expansion, operations, and maintenance. [26] After undergoing an unsuccessful Swiss challenge, [27] on September 30, 2024, the Philippine government awarded Aboitiz InfraCapital with a ₱12.75-billion contract to develop and maintain the airport beginning in April 2025. [28] On October 28, 2024, the concession agreement was signed. [29]
Aerotropolis
Ayala Land, who owned 183 of the 417 hectares of land acquired by the government to develop the airport complex, has future plans to develop an aerotropolis around the airport. [30] [31] This is part of the pre-conditions granted by Civil Aviation Authority of the Philippines for expropriating the lands the government bought from the corporation. [3] Ayala Corporation, the parent company of Ayala Land, is one of the bidders in privatizing, through the public-private partnership scheme, the operations and maintenance of the airport. [32]
In September 2017, Ayala Land is set to build its first industrial estate outside Luzon within the planned aerotropolis. [33]