MacroAsia Corporation

What MacroAsia Corporation does

MacroAsia Corporation is a Philippine holding company listed on the Philippine Stock Exchange under ticker MAC, founded in 1996 and headquartered in Makati City. The group operates a diversified portfolio of aviation support services — in-flight catering (MACS, MSFI, MSIS, Cebu Pacific Catering Services), ground handling (MASCORP across all three NAIA terminals plus Mactan-Cebu, Kalibo, Davao, and General Santos), aircraft maintenance, repair and overhaul through the Lufthansa Technik Philippines joint venture, and aviation training via First Aviation Academy — alongside adjacent water concessions, mining exploration, ICT services, and special economic zone operations. The water segment includes BTSI in Boracay, NAWASCOR in Cavite, SNV Resources in Solano, and Summa Water Resources, collectively operating approximately 16.7 million liters per day of treatment capacity across roughly 70 sewage treatment plants and over 67,000 km of pipeline. The company also holds a stake in Japan's Narita-based ground handler JASCO and a 30% interest in Konoike Transport's ground handling unit.

MacroAsia's revenue model is anchored in B2B service contracts with airlines, airport authorities, government water districts, and institutional clients — including 17 major international airline customers in catering and Philippine Airlines as the dominant anchor for MSIS. Pricing is contract-negotiated and not publicly disclosed. Key revenue streams are in-flight catering (including the largest meal volume in the Philippines at 21,000 meals per day), ground handling, MRO via the Lufthansa Technik JV, regulated water supply, and nickel laterite exploration services. The business is supported by the proprietary MacroAsia Special Economic Zone at NAIA (229,000 sqm housing LTP's three-hangar, EASA/FAA/CAAP/CASA/Japan CAB/Korea MOLIT-certified MRO facility), the MacroAsia Cebu Special Ecozone, and a partner ecosystem spanning Lufthansa Technik AG, SATS Ltd., Cathay Pacific Catering Services, Konoike Transport, PTC Holdings, and Citicore Power.

Strategic positioning combines aviation-services market leadership in the Philippines (only ground handler across all NAIA terminals; 63% foreign-airline catering market share at NAIA) with regulated utility exposure and selective international expansion. Notable 2025 financial performance included PHP 1.61 billion in net income (up 17% year-over-year). Forward expansion is signaled through the Sangley Point International Airport JVDA, the planned LTP Clark base maintenance facility, the 60 MLD Lapu-Lapu City desalination project with Citicore Summa Water, and ongoing pipeline expansion in NAWASCOR. The capital structure is public-equity-based with a fragmented institutional shareholder base led by PCD Nominee Corporation at 22%.

Name

MacroAsia Corporation

Legal name

MacroAsia Corporation

Website

https://macroasiacorp.com

Company type

Public

Founded year

1996

Operating status

Operating

Headcount range

501–1,000 employees

Short description

MacroAsia Corporation is a Philippine-listed holding company providing aviation support services — in-flight catering, ground handling, MRO via Lufthansa Technik Philippines JV, and aviation training — alongside water concessions, mining exploration, and ICT services to airlines, airport authorities, and government clients.

Ownership category

akta.pro rank

Headquarters

HQ city

Cebu

HQ country

Philippines

HQ region

Asia

Offices16 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Supply Chain, Marketing or Sales

Revenue model

1. In-Flight Catering Services: Provides in-flight catering services to domestic and international airlines operating at NAIA, Mactan-Cebu International Airport, and other Philippine airports. Operates through subsidiaries including MacroAsia Catering Services, MacroAsia SATS Food Industries, MacroAsia SATS Inflight Services, and Cebu Pacific Catering Services.
2. Ground Handling and Airport Services: Provides comprehensive ground handling services at NAIA (all three terminals), Mactan-Cebu International Airport, Kalibo International Airport, Davao International Airport, and General Santos International Airport through MacroAsia Airport Services Corporation (MASCORP).
3. Aircraft Maintenance, Repair and Overhaul (MRO): Joint venture with Lufthansa Technik AG providing base maintenance checks and aircraft overhaul services. Lufthansa Technik Philippines offers services for A320 family, A330, A340, A380 and B777 aircraft types.
4. Water Treatment and Supply Services: Operates water concessions and treatment facilities outside Metro Manila including Boracay, Solano (Nueva Vizcaya), Naic (Cavite), and various desalination projects. Subsidiaries include SNV Resources Development Corp, Boracay Tubi Systems Inc., Naic Water Supply Corporation, Summa Water Resources Inc., and Citicore Summa Water Corporation.
5. Mining Exploration Services: MacroAsia Mining Corporation provides outsourced exploration services to mining companies, including nickel laterite property exploration. Services cover all exploration stages for prospective nickel laterite properties.
6. ICT Services: TERA Information and Connectivity Solutions provides technology and Tier 1 service provider services including information management, data connectivity, radio trunking and managed services for the MacroAsia Group.

Go-to-market motion1 record

Distribution channels8 records

Marketing channels4 records

Core offering

MacroAsia Corporation is a Philippine holding company that delivers aviation-related support services through subsidiaries covering in-flight catering, ground handling, aircraft maintenance/repair/overhaul (via its Lufthansa Technik Philippines joint venture), and aviation training. The group also operates water supply and wastewater treatment concessions in Boracay, Naic, and Solano, ecozone property development, outsourced nickel mining exploration, and in-house ICT services for the group.

Product overview

MacroAsia Corporation is a holding company operating a diversified portfolio of aviation-related support services and water infrastructure businesses in the Philippines. The company operates through three main segments: Food Services (in-flight catering via MACS, MSFI, MSIS, and CPCS serving domestic and international airlines), Gateway Services (ground handling through MASCORP and air taxi via MAATS, including Japanese ground handler JASCO), and Maintenance, Repair and Overhaul (via Lufthansa Technik Philippines joint venture). Additional segments include Aviation Training (First Aviation Academy), Ecozone & Property Development (MAPDC managing special economic zones), Water Related Projects (BTSI, NAWASCOR, SWRI, SNV handling water supply and treatment), Mining Services (MMC for nickel exploration), and ICT Services (TERA for data connectivity). The portfolio spans aviation support, water utilities, real estate, mining, and technology services.

Differentiator

Problem solved

Functional benefit

Products and services

• In-Flight Catering at NAIA (MacroAsia Catering Services) In-flight catering services for domestic and international airlines at Ninoy Aquino International Airport, serving 63% of foreign airlines market at NAIA with 17 major international airline clients. Operated by MacroAsia Catering Services, Inc. (MACS), in which SATS Ltd. holds 33% ownership. Holds ISO 9001:2015, HACCP, and HALAL certifications.
• In-Flight Catering for Philippine Airlines (MacroAsia SATS Inflight Services) Inflight catering service provider for Philippine Airlines (PAL) international and domestic flights, producing approximately 21,000 meals per day — the largest meal volume in the Philippines. Operated by MacroAsia SATS Inflight Services Corporation (MSIS) at the PAL Inflight Center, Pasay City.
• Institutional and Non-Aviation Catering (MacroAsia SATS Food Industries) Institutional catering services outside the airport compound for business-to-business clients including banks, hotels, and casinos. Operated by MacroAsia SATS Food Industries Corporation (MSFI) as a subsidiary of MACS.
• In-Flight Catering at Mactan-Cebu (Cebu Pacific Catering Services) Full-service airline catering company at Mactan-Cebu International Airport serving Philippine Airlines, Cebu Pacific, and Asiana Airlines, with 3,000 meals per day capacity from a 1,800 sqm facility. Joint venture between MAC (40%) and Cathay Pacific Catering Services (40%), with MGO Pacific Resources Corporation (20%).
• Ground Handling and Airport Services (MASCORP) Ground handling services at NAIA (all three terminals), Mactan-Cebu, Kalibo, Davao, and General Santos International Airports. The only ground handling company present in all three NAIA terminals. Operated by MacroAsia Airport Services Corporation (MASCORP), with Konoike Transport holding a 20% stake.
• Ground Handling at Narita, Japan (JASCO) Integrated ground handling services at Narita International Airport, Japan, including flight operations, baggage handling, cargo services, and GSE maintenance for 29 carriers. Operated by Japan Airport Service Co., Ltd. (JASCO) under the Konoike Group.
• Aircraft Maintenance, Repair and Overhaul (Lufthansa Technik Philippines) Aircraft MRO services for A320 family, A330, A340, A380, and B777 aircraft, including base maintenance checks, major modifications, cabin reconfiguration/retrofit programs, and lease return checks. Certified by CAAP, FAA, EASA, CASA Australia, Japan CAB, and Korea MOLIT. Operated by Lufthansa Technik Philippines, Inc. (LTP), a joint venture with Lufthansa Technik AG, within the 229,000 sqm MacroAsia Special Economic Zone at NAIA featuring 3 hangars and 9 apron parking slots.
• Air Charter and Fixed-Based Operations (MAATS) Non-scheduled domestic flight operator providing Fixed-Based Operations (FBO) services supporting Lufthansa Technik Philippines MRO clients. Operated by MacroAsia Air Taxi Services, Inc. (MAATS).
• Aviation Training (First Aviation Academy) Aviation training and skills assessment center at Subic International Airport providing ab initio pilot training, certification, and career development courses for aviation professionals. Operated by First Aviation Academy, Inc. (FAA), a joint venture with PTC Holdings Corp.
• Ecozone and Property Development (MAPDC) Development and operation of the MacroAsia Special Economic Zone at NAIA and MacroAsia Cebu Special Ecozone, providing facilities and wastewater treatment/recycling infrastructure for aviation-related and industrial tenants. Operated by MacroAsia Properties Development Corporation (MAPDC). Includes a 5-hectare designated area out of 7 hectares leased from Mactan-Cebu International Airport Authority in 2018.
• Water Supply and Wastewater Services in Boracay (BTSI) Water supply and wastewater services provider serving approximately 40% of Boracay Island's water demand, with 10 million liters per day water treatment capacity and 6.7 million liters per day wastewater treatment capacity spread across approximately 70 Sewage Treatment Plants compliant with DENR 2016-08 Effluent Standards. Operated by Boracay Tubi System Inc. (BTSI).
• Water Supply in Naic, Cavite (NAWASCOR) Water utility serving the Municipality of Naic, Cavite with approximately 67,711 km of pipelines (expanded from an original 48,354 km), 14 pumping stations, and 15,698 water connections. Operated by NAIC Water Supply Corporation (NAWASCOR).
• Water and Wastewater Treatment Systems (Summa Water Resources) Water and wastewater treatment systems OEM supplying treatment equipment and bulk water to private and government entities. Holds 40% in Citicore Summa Water Corporation joint venture with Citicore Power, Inc. Operated by Summa Water Resources, Inc. (SWRI).
• Waterworks System in Solano, Nueva Vizcaya (SNVRDC) Complete waterworks system operator in Solano, Nueva Vizcaya, with 10 million liters per day treatment capacity from Magat River surface water source, serving 8 of 22 barangays of the town center with minimum 16 PSI water pressure. Operated by SNV Resources Development Corporation (SNVRDC).
• Outsourced Mining Exploration (MacroAsia Mining Corporation) Outsourced exploration services provider covering all exploration stages for prospective nickel laterite properties, including drilling services and technical reports. Serves clients including VIL Mines, Inc. and Pacific Nickel Philippines, Inc. Operated by MacroAsia Mining Corporation (MMC).
• ICT and Connectivity Services (TERA) Technology and Tier 1 Service Provider for the MacroAsia Group providing information management, data connectivity, radio trunking, and managed services. Operated by TERA Information and Connectivity Solutions, Inc.

Quantifiable outcome

• 21,000 meals per day - largest meal volume in the Philippines for MSIS
• +5 more outcomes

Named customers35 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Seven partnerships are on record, tiered minor and core.

• GuangtaiminorStrategic or Co-development Partner · 2 March 2023MacroAsia signed a Strategic Cooperation Agreement with Guangtai. Further details of the partnership scope were not specified in the available source material.
• Citicore Power, Inc.coreStrategic or Co-development Partner · 1 September 2018Joint venture company named Citicore Summa Water Corporation (CS Water) formed in September 2018, with SWRI holding 40% ownership. The joint venture was established to develop raw water sources and supply treated bulk water. CS Water signed a Joint Venture Agreement for Janiuay Water District in Iloilo and a Bulk Water Supply Contract with Lapu-Lapu City in Cebu for a 60 MLD Desalination Plant.
• PTC Holdings Corp.coreStrategic or Co-development Partner · 1 January 2017Joint venture to establish First Aviation Academy (FAA), a training and skills assessment center for aviation professionals including ab initio pilot training, certification, and career development courses. FAA is based at Subic International Airport.
• KONOIKE GroupcoreStrategic or Co-development Partner · 1 January 2017Japan Airport Service Co., Ltd. (JASCO) joined the KONOIKE Group in 2017. KONOIKE Group is a global enterprise listed on the First Section of the Tokyo Stock Exchange. JASCO operates as an integrated ground handling company at Narita International Airport serving 29 carriers.
• Lufthansa Technik AGcoreStrategic or Co-development Partner · 1 January 2000Joint venture established in 2000 creating Lufthansa Technik Philippines, one of 30+ affiliates within the Lufthansa Technik network. Lufthansa Technik AG provides world-renowned standards of quality, safety and reliability, technical training (through Lufthansa Technical Training Philippines EASA 147-approved Maintenance Training Organization), design organization approval, and global brand association. MAC holds ownership stake in the joint venture.
• SATS Ltd. (Singapore)coreStrategic or Co-development Partner · 1 January 1996Strategic partnership through MacroAsia Catering Services (MACS) where SATS Ltd. holds 33% ownership. SATS provides expertise in airline catering operations and facility development. SATS Food Industries Corporation operates as a subsidiary of MACS with strength derived from the partnership between MacroAsia Corporation and SATS Ltd.
• Cathay Pacific Catering Services of Hong KongcoreStrategic or Co-development Partner · 1 January 1996Partnership in Cebu Pacific Catering Services Inc. (CPCS) where Cathay Pacific Catering Services holds 40% ownership alongside MAC (40%) and MGO Pacific Resources Corporation (20%). Cathay Pacific designed and developed CPCS's two-storey fully-equipped kitchen facility at Mactan Economic Zone, applying international hygiene standards.

Scale indicators23 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• SATS Ltd. Singapore-listed market leader in gateway services (catering, ground handling) and food solutions across Asia-Pacific. SATS holds 33% of MacroAsia Catering Services and is both a JV partner and a direct competitor in airline catering and ground handling.
• LSG Sky Chefs: Lufthansa Group's airline catering subsidiary, the largest in-flight caterer in the world. Sister company to Lufthansa Technik Philippines (MacroAsia's MRO partner) and direct competitor in airline catering.
• Menzies Aviation: UK-based global ground handling and aviation services provider. Menzies divested 30% of MASCORP back to MacroAsia in 2016, making it a former JV partner and direct competitor in ground handling services at NAIA and other Philippine gateways.
• Gate Gourmet: Largest independent in-flight catering group globally (part of gategroup), serving 200+ airlines. Direct competitor to MacroAsia Catering Services and MSIS in airline catering operations.
• Swissport International: World's largest airport ground services and air cargo handling provider, operating at ~300 airports globally. Closest direct peer to MASCORP in scale and service breadth of ground handling.
• dnata: Emirates Group's global ground handling, catering, and travel services division operating at major international airports. Closest direct competitor to MacroAsia's combined catering and ground handling offering across multiple geographies.

Regional players

• Manila Water Company: Ayala-led water and wastewater concessionaire for the East Zone of Metro Manila and various provincial Philippines markets. Closest Philippines-based peer to BTSI, NAWASCOR, SNVRDC, and Summa Water Resources in water utility operations.
• Maynilad Water Services: Metro Manila West Zone water and wastewater concessionaire with provincial Philippines expansion. Comparable to MacroAsia's water utilities in regulated concessions, treatment, and distribution economics.

Broad incumbents

• Lufthansa Technik AG: Global leader in aircraft MRO and MacroAsia's JV partner in Lufthansa Technik Philippines. Competes in the same MRO market while also being the anchor partner giving MAC access to the global Lufthansa Technik network.
• ST Engineering: Singapore-based aerospace, land systems, and marine conglomerate with substantial MRO operations across Asia-Pacific. Broader incumbent competing with Lufthansa Technik Philippines for wide-body MRO contracts.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/msis

Compliance12 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries16 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MacroAsia Corporation