The memorandum signed by both nations covers topics such as exploitation rights and customs, commercial representation and other things.
From a press release issued by the Presidency of Panama:
Under the framework of the XXIII Ibero-American Summit, Panama and Portugal signed this Saturday, October 19th, a new bilateral air services agreement, a product of the discussions that have been "held in a cordial atmosphere, between delegations of the two countries".
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.
In a reversal of the decision of having them administered by Tocumen SA, the airports of David, Colon and Rio Hato will be granted in concession to private companies.
The Panamanian government now believes that it would not be suitable for Tocumen SA to manage – along with Tocumen International Airport - these airport terminals, which are being remodeled at a cost of $138 million.
After the termination in March of this year of Aeroperlas Regional’s operations, no other companies are in sight to compete in the market with Air Panama.
Rafael Barcenas, director of the Civil Aviation Authority (CAA) said that while it is not healthy that there is a single operator for domestic routes, as it is a regulated market, users have not been affected in terms of fares after Regional Aeroperlas’ exit of from the market.
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.
A residential project in the Bay of Panama which will have 16 towers, some of up to 30 stories, a hotel, marinas, convention center and retail space, is generating internal dispute in Martinelli’s government.
The project was presented by a group of private businessmen (Maritime City) under the name Amador City Marina which will be built on two peninsulas with 36 hectares of the sea bed being filled on the Amador Causeway in Panama Bay.
The Panamanian aviation authority (AAC) has given the companies Meco and CUSA the order to begin work.
Meco, at a cost of $3.44 million, will be in charge of the runway improvements while the $2.99 million paid to Constructora Urbana S.A. (CUSA) will go toward the design and construction of a new taxiway.
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