SPOTLIGHT: More Tocumen airport investment inbound
Of every two passengers who landed at Tocumen airport in Panama last year, more than one was en route somewhere else.
Tocumen, as a result of this, is the third biggest hub in the Americas – after Atlanta and Dallas – in terms of percentage of transit passengers.
Panama has a population of 3.5mn but in 2014 more than 8.5mn passengers landed at and took off from Tocumen, located on the country's Pacific coast. The airport is being expanded and Joseph Fidanque, CEO of its state operator, said last month that construction of the US$680mn new south terminal had advanced 43%.
He added the terminal was expected to be completed in the second half of 2017, a year later than initially anticipated, and that more investment would be needed. "The terminal will look great but afterwards we will have to invest a lot more," local newspaper La Estrella quoted him as saying.
Tocumen traffic increased fourfold between 2003 and 2014, reflecting high passenger growth in Latin America over the past decade, a subject covered in a BNamericas Intelligence Series report.
Panama's Copa Airlines is the carrier that has been using Tocumen airport the most as a hub – and global competitors are now getting in on the game.
"Lufthansa passengers will in future be able to easily reach a further 50 destinations in Central and South America and the Caribbean with the partner airline," the German carrier said in a statement announcing the launch of a new Panama City-Frankfurt service in November.
Lufthansa will fly five times a week between the two cities. Air France started flying to Panama in 2013.
Apart from transit passengers, the Panama Canal, banking sector, the country's favorable geographic location and good infrastructure also generate traffic.
Developing Tocumen is part of a national plan to turn Panama into a global logistics hub, as explained in a separate BNamericas Intelligence Series report.
Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.
News in: Infrastructure (Panama)
The infra plans of CentAm's biggest bank
BNamericas talks to Aimée Sentmat, CEO of Panama's Banitsmo, about PPPs, regulations and the 2023 outlook.
ISA seeks piece of US$21bn LatAm investment pie
The Colombian company will pursue new energy, road and telecommunications projects in Brazil, Colombia, Chile, Peru and Panama over the next 12 mon...
Subscribe to Latin America’s most trusted business intelligence platform.
Other projects in: Infrastructure (Panama)
Get critical information about thousands of Infrastructure projects in Latin America: what stages they're in, capex, related companies, contacts and more.
- Project: Puerto Baru
- Current stage:
- Updated:
2 months ago
- Project: Panama Metro Line 3
- Current stage:
- Updated:
2 months ago
- Project: Design, supply, construction and financing of modular bridges for progress. Region 2. Herrera. Esquiguita river
- Current stage:
- Updated:
9 months ago
- Project: Design, supply, construction and financing of modular bridges for progress. region 2.herrera. broken the bars
- Current stage:
- Updated:
9 months ago
- Project: Design, supply, construction and financing of modular bridges for progress - region 6 veraguas cañazas river
- Current stage:
- Updated:
9 months ago
- Project: Design, supply, construction and financing of modular bridges for progress region 3 cocle rio turbe
- Current stage:
- Updated:
9 months ago
- Project: Design, supply, construction and financing of modular bridges for progress, region 3 cocle - rio chorrerita, rio chorrera
- Current stage:
- Updated:
9 months ago
- Project: Design, supply and construction and financing of modular bridges for progress region 2. herrera. river you kill them
- Current stage:
- Updated:
9 months ago
Other companies in: Infrastructure (Panama)
Get critical information about thousands of Infrastructure companies in Latin America: their projects, contacts, shareholders, related news and more.
- Company: BAM International B.V. (BAM International)
-
BAM International B.V. is a subsidiary of Royal BAM Group, one of Europe's largest contracting companies active in construction and property, civil engineering, public-private p...
- Company: Chubb Seguros Panamá S.A.
- Company: Consorcio Asobuz
-
Consorcio Asobuz is a company formed by Administration and Supervision of Civil Works, SA and BUZCA Soluciones de Ingeniería SA for the execution of the Fiscal Dock of Armuelles...
- Company: Nalanda Global S.A
- Company: Icaza Trust Corporation
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Arcal Abogados
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Industrias Duero
- Company: Corelogs Ingeniería S.A.
- Company: Tecnilab, S.A.
Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.
