Last Tuesday the President of Panama, José Raúl Mulino, revealed that his government is evaluating the privatization of Tocumen International Airport in Panama City. The announcement was made during a business roundtable with 24 French multinationals during his official visit to Paris.
The concession would include Tocumen the country’s main air terminal, along with other smaller airports in Río Hato, Colón, and David, which are all all under the administration of the 100% state-owned Aeropuerto Internacional de Tocumen S.A. (AITSA).
Both the President and the Minister of Commerce & Industry indicated that the concession will be granted by tender to a “highly solvent international companies with vast experience in airport management”.
The plan will likely attract the interest of airport operators that already have concessions to operate airports in Latin America. These are: Vinci Airports and Groupe ADP (Aéroports de Paris) from France, Aena (Barajas Airport in Madrid) from Spain, the German Fraport and the Swiss Zurich Airports, among others.
Tocumen Airport in numbers
Tocumen is busiest airport in Central America and is a key regional connectivity hub. In 2023, it handled more than 17 million passengers. In the first 9 months of this year, it has already exceeded 14 million, a 9% increase compared to the same period last year. 75% of these air transit passengers.
Tocumen International Airport, the hub of Copa Airlines, currently has 13 commercial airlines and 16 cargo airlines operating at the airport, connecting Panama with more than 85 destinations worldwide.
It is expected that this year the airport’s income will exceed the 400 million dollar barrier. According to José Ruiz, General Director of AITSA, AITSA expects to deliver $40 million in dividends corresponding to the fiscal year 2023.
The general manager of Tocumen International Airport, S.A., Jose Ruiz Blanco, confirmed to this media that so far they have accumulated a debt of $1,855 million, with annual payments of $88.8 million in interest.