MANILA -- Aboitiz Equity Ventures (AEV) on Monday denied that it has acquired a majority stake in budget carrier AirAsia Philippines.

The group's statement comes after a local broadsheet reported that AEV has become the low-cost airline's majority owner.

The newspaper report said the Aboitiz group controls the firm that bought a 60 percent stake in AirAsia Philippines in June.

"We would like to clarify and state that this information is not true and accurate," the company said.

The group also said they are "actively verifying" the sources that led to the article's publication.

"We want to assure our stakeholders and the public that any significant developments regarding our company will be communicated and disclosed first by us through official channels," the company added.

The Aboitiz Group in March told the Philippine Stock Exchange that it has allocated P78 billion this year for capital expenditures as it focuses on renewable energy and new businesses,

AEV said its infrastructure unit will be spending almost P32 billion, or 42 percent of the conglomerate’s capex budget, to further expand Aboitiz InfraCapital’s economic estates, telco towers business, as well as new investments in digital infrastructure.

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AirAsia CEO Tony Fernandes, meanwhile, said in June that the company remains bullish on the Philippine economy, noting that pent-up demand is still driving leisure and workforce travel.

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