Enrique Malek Airport Handed Over to Tocumen SA

With the free transfer of title, approved by the Civil Aviation Authority, the company will receive assets valued at $118 million.

Wednesday, September 25, 2013

Prensa.com reports: "During the appraisal conducted by the Ministry of Economy and Finance and the Comptroller General of the Republic, it was determined that the airport grounds are worth $56 million, while infrastructure is worth $55.1 million." Added to this is another $6.5 million in equipment and other things.

In addition, an executive order states that Tocumen SA, will receive the assets of the airports Enrique A. Jimenez, in Colon, and Scarlett Martinez, in Rio Hato, Cocle.

Tocumen is currently preparing a bond issue for $650 million to finance the construction of a new terminal which will cost about $679.4 million.

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More on this topic

Panama Wont Grant Airports in Concession

May 2013

Panama's government has backed down and decided that the airports in Rio Hato, David and Colon, will be administered by Tocumen SA.

Rafael Barcenas, director of the Civil Aviation Authority (CAA), said that they found a way for three new airports, which will not be profitable in the short term, not to become an administrative burden that hinders securing the funds they need to build the South Terminal at Tocumen airport, which will have an investment of $679.4 million.

Tocumen SA to Manage Three More Airports

June 2012

The airports of David, Rio Hato and Colón will change administration to be run by the same company that runs the Panama International Airport.

"The assets and liabilities of the airports of David, Rio Hato and Colon -terminals that are administered by the Autoridad Aeronáutica Civil (AAC) - will be transferred to "without consideration of payment" to Aeropuerto Internacional de Tocumen, S.A., as stipulated in executive Order No. 654 of June 5, 2012 and which was registered in the Official Gazette yesterday", reported Prensa.com.

New Committee to Decide Who Will Build Malek Airport

April 2010

A new verification committee will analyze the proposals submitted to expand Airport E. Malek in Panama.

The previous committee had recommended awarding the contract to “Constructora Riva”. In response, the remaining companies filed a formal complaint.

“Riva’s competitors argued that the company did not have the minimum required personnel, and that to correct this, Riva included the resume of a different engineer than the one included in the first proposal. In their opinion, this would render the process void”.

More Time to Bid for Panamanian Airport

March 2010

The Civil Aviation Authority postponed until March 24 the deadline to bid for the enlargement of Enrique Malek airport.

These works are valued at $24 million, and include design and construction of a runway, customs area and passenger terminal.

“The airport currently receives small airplanes, such as ATR and Hawker, capable of 40 to 60 passengers.

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