With an increase of the departure tax to $50.00 from January, 2016, Panama City will have the highest tax in Central America. It is followed by El Salvador, $40.27; Honduras, $39.72; Guatemala $30.00 and Costa Rica, $29.00.
Tocumen International Airport authorities indicate that this increase will improve the cash flow of the terminal, a key point as it makes a bond issue for $625 million to finance the current expansion project. Tocumen informed the Panama [...]
It will possibly be the longest non-stop flight in the world that will be launched by Emirates Airline (17 hours 35 minutes westbound) to Panama. With this flight, Panama becomes the first country in Central America with direct flights to and from Dubai.
The plane used will be a Boeing 777-200RL with 3-8 First Class, 42 in Business and 216 in Economy class. It will be able to carry up to 15 tons of cargo [...]
To obtain the financing needed to complete the expansion of the South Terminal, the Tocumen International Airport administration expects to reissue debentures.
The delays that have occurred in the work due to changes in the original project design, prevent the administration from beginning to raise funds for the concession of the new “duty free” area, so they have announced that they will need to issue a new bond debt to complete the financing. It is [...]
To boost tourism to Colón, Joseph Fidanque III, General Manager of Tocumen International Airport, announced plans at the recently held FOTUR forum for the reactivation of the Enrique E. Jiménez Airport.
Fidanque noted that the Jiménez airport does not yet have the expected activity despite an investment of $60 million made by the previous administration. Investors are now looking to repurpose the use of the facilities by creating an international training center for the Aeronautics [...]
The busy domestic flight terminal is being transferred to make room for the fourth bridge over the Canal
The construction of the fourth bridge over the Panama Canal, a project tied to the building of Metro Line 3 towards Panama Oeste, will impact land and air transport services in the City. Because of the expected stress the project will have on traffic flow along one of the City’s main arteries, the project is now calling [...]
The Colón airport, which had an investment of $58 million during the Martinelli administration, is not receiving commercial flights, so Tocumen, S.A. is analyzing alternatives to improve use of the terminal to begin generating profits.
One option is to use the facilities for an aviation school. Abelardo Sucre, regional airports manager of Tocumen, S.A., recently said that the Colón airport “is not a thriving business” and that “it does not generate profits.” He also said [...]