Iloilo-Negros Air Express Aviation Corporation, which operated as INAEC Aviation Corporation or INAEC, was an airline company based in the Philippines. Founded in 1932 by the López family of Iloilo as Iloilo-Negros Air Express Company, Inc. (operated as Iloilo-Negros Air Express or simply INAEC), it was the first commercial airline in the Philippines. It was later renamed Far Eastern Air Transport Inc. (FEATI) and folded into the operations of Philippine Airlines (PAL) which was re-nationalized by the Philippine government and became the national flag carrier. The company built the Bacolod International Airport in Bacolod City, which was bought by PAL after the acquisition of the airline.