Aboitiz Group denies acquiring stake in AirAsia Philippines

MANILA, Philippines — The Aboitiz Group denied yesterday a story published by this newspaper that it has become the majority owner of low-cost carrier AirAsia Philippines by acquiring a 60-percent stake in the airline.

“A major newspaper published an article stating that the Aboitiz Group acquired a majority stake in the low-cost carrier AirAsia Philippines,” Aboitiz Equity Ventures (AEV) said in a regulatory filing.

“We would like to clarify and state that this information is not true and accurate. At this time, we are actively verifying the sources that led to the publication of this article and have requested that the article be taken down,” the firm added.

AEV informed shareholders that it would communicate any developments involving its operations. Likewise, it committed to disclose corporate actions only through official channels.

On the other hand, AirAsia Philippines said the company is in talks with the Aboitiz Group as it is set to operate the Mactan-Cebu International Airport (MCIA) by 2024.

“Capital A companies, including AirAsia, are fostering strong relations with Aboitiz Group and Mactan-Cebu International Airport and we remain committed to engaging in fruitful discussion with various stakeholders who share our vision of democratizing air travel in ASEAN,” AirAsia Philippines said.

Like AEV, AirAsia Philippines denied that the Aboitiz Group now controls majority shares in the airline.

As of press time, officials of AEV and Air Asia Philippines declined to make any further comments.