Juan Carlos Pino, general manager of Tocumen, SA, said the airport is looking to expand routes and frequencies, and in the future, "we are counting on airlines from Asia" to transform the airport into a transcontinental hub.

In a recent speech before the National Assembly, Pino said that Tocumen airport is about to reach its useful capacity. In 2011, there was an increase of 11% in business revenue, growth was between 22% and 25%, and in the line of aeronautical revenues, the increase was 11%. "If we don’t make the right decisions [now], we will lose competitiveness," that we are recording to date, he said.

Revenues last year were $99 million and $49 million was earned in gross profit reported Prensa.com.

"The finances are very healthy," we have assets of $800 million and debt of $30 million, which gives us room to take on more debt, said Pino.

Source: Prensa.com

More on this topic

Works Finished on Panamanian Airport’s North Terminal

January 2012

With an investment of $100 million, the construction company will deliver the work between 15th and 20th January.

Juan Carlos Pino, manager of Tocumen SA, told media that the new areas will be used immediately.

"Pino explained that operations will be carried out in only two of the 12 new boarding gates and part of the operational area, where is baggage moved and aircraft re-fuelled and re-stocked with food supplies.

Tender for Expansion of Tocumen

January 2012

The plan is for a 20 gate terminal that is completely independent from the current one, with an investment of $350 million.

Transit through Tocumen International Airport grew by almost 20% during 2011, reaching 6 million passengers, up from the 5.1 million recorded in 2010. It is estimated that in 2012 the figure will be between 6.4 and 6.6 million.

British Company Interested in Tocumen Expansion

November 2011

The company Foster and Partners is interested in participating in work on the new terminal on the south side of Tocumen International Airport.

The company, which designed an airport in Hong Kong Airport and one in Shanghai has expressed interest in participating in the bidding process to be held next year, said the president of the Board of Tocumen, Frank de Lima, at the end of Panama Invest which took place in London and Paris.

Tocumen Expansion Ready in September

March 2011

The new terminal will be ready in September and will increase airport capacity by 50%.

It will have 12 new boarding gates and will be designed to receive any type of aircraft.

"Once the expansion is operating, the Tocumen administration will begin the process of constructing the southern terminal, which would add about 20 additional gates," states the article in Prensa.com.