$100 million of loans have been granted, paving the way for larger passenger capacity at Juan Santamaria Airport.
A press release from the Inter-American Development Bank reads:
Juan Santamaria International Airport in San Jose, Costa Rica has successfully completed a three-year restructuring process and is preparing to more than double its passenger capacity after partnering with the Inter-American Development Bank (IDB) and the Overseas Private Investment Corporation (OPIC).
The Board of Directors of OPIC approved resources to support the expansion of the Juan Santamaría International Airport.
OPIC's loan will allow a consortium led by HAS Development Corporation (HASDC) to complete the renovation of the Juan Santamaría International Airport outside San Jose.
The project includes a terminal extension for immigration and customs procedures, waiting rooms and additional parking in remote areas.
The Costa Rican airport has now capacity to handle 3 million passengers a year.
Carlos Plass, chief executive of airport operator, Aeris Holding Costa Rica, spoke of expansion work, indicating that airline counters increased by 30% (from 58 to 78), immigration from12 seats to 28 and security check points doubled.
El Financiero´s web site reports, "In total, the airport now has 33,000 square meters, of which Aeris built about 11,500 in a year, while Alterra did 12,500 from 2001 through 2009."
The operator of International Airport Juan Santamaría changed its name to Aeris Holdings.
The announcement was made by Carlos Plass, Aeris' new executive director in a press release: "... the new partners not only wanted to, but also needed to change the former name...".
La Prensa Libre reports: "...the new leaders of the company explained that the project goes on according to schedule, and they guarantee they will finish the passenger terminal and Block C boarding areas by mid-2010. They mentioned that in 2011 they will deliver the boarding areas of Blocks D and E, effectively ending the second modernization phase of the airport".
Terminal's operator will use $45 million loan to refinance debt, carry out key infrastructure and service improvements
The Inter-American Development Bank approved a $45 million long-term loan to help finance the expansion of the Juan Santamaría International Airport in San José, Costa Rica, and support its new operator's plans to refinance debt.
The non-sovereign guaranteed loan will be made to Alterra Partners Costa Rica SA (APCR), the airport’s operating company, owned since July 2009 by Brazilian, Canadian and U.S. partners.
The approved concession comprises the construction of the new terminal and its administration for the next 20 years.
Company "Sociedad Concesionaria Coriport S.A." will operate the concession of International Airport Daniel Oduber Quirós in Liberia.
Nacion.com reports that this company "is composed by MMM Aviation Group S. A., Houston Airport System, Emperador Pez Espada S. R. L. Brad and Ted Corporation S. R. L. and Cocobolo Inversiones".
The new operator of International Airport Juan Santamaría wants to convert it into a connections center.
As a strategy for luring more passengers into the air terminal, its operator, Houston Airport Systems Development Corporation (HASDC), plans to transform it into the connections center (hub) of a regional airline.
"This was confirmed by Jeffrey Scheferman, HASDC president", reported Nacion.com.
Starting today, Houston Airport takes charge of the operation and administration of the Juan Santamaría International Airport.
The consortium, lead by Houston Airport, the world's sixth largest airport operator, obtained the endorsement of the Costa Rican authorities, becoming, starting today, the airport administrator and responsible for the expansion project currently on the works.
The Costa Rican government signed a contract giving the concession for the expansion of Daniel Oduber Airport, in Liberia, Guanacaste.
The project, which includes the construction of a two story building with a total area of 23,000 square meters, is in the hands of the consortium Coriport S.A., composed of by the firms MMM Aviation Group S. A., Houston Airport System, Emperador Pez Espada S.
The US consortium has the backing of the Comptroller General of the Republic to operate and expand Juan Santamaría airport.
The current manager, Alterra Partners, has been without the funds to undertake the expansion for a year and it has agreed to cede its rights to Houston Airport System (HAS).
According to the Comptroller, with the concession transfer “International Finance Corporation (IFC) remains the main creditor, which from our viewpoint ensures the existence of sufficient economic conditions, when you add the capital contribution by the concessionaire and it may be possible to remedy serious failings in the construction of the project,” according to a Yahoo News publication.
Houston Airports Consortium said that it has $30 million and creditor banks for Alterra will provide $10 million to complete the work in phases one and two.
La Prensa Libre reported on its website: "This was announced yesterday by Karla González, Minister of Transport, and Jeff Scheferman, president of HASDC. They noted that the 'good news' is that they got funding for the continuation of the modernization project, at least in phases one and two, for the country's largest airport. These phases were abandoned by Alterra Partners, the current manager, due to lack of funding. Less than a month ago HASDC, which is seeking to replace Alterra, had offered $30 million of its own capital for the continuation of the project without taking into account financial closure from creditor banks and the IFC. However, the Comptroller General of the Republic (CGR) did not give the Civil Aviation Technical Council (Cetacean) permission to continue because it requested for the funding to be full, secure and constant."
The International Financial Corporation (IFC) is considering assuming the financing of pending works in Juan Santamaría Airport.
Mario Bermúdez Vives writes in Elfinancierocr.com: "Officials are seeking alternatives to rescue the management contract of interest, after the Comptroller's office rejected a request to continue formalizing the contract schedule, without having secured the financing.
J. P. Morgan Bank revoked its $100 million financing proposal for the pending expansion projects at the Juan Santamaría Airport.
The loan had been offered to the new managing agent of Costa Rica´s international airport, Houston Airport System Development Corporation, and they were in the thick of the financing process. The company counted on this finanicng to undertake the termination of the projected expansions.
Houston Airport, the administrator of the Juan Santamaria airport, was granted the concession for the expansion of the Liberia airport.
The expansion project for the Daniel Oduber airport in Liberia, Guanacaste, will require an initial investment of $35 million to construct an area of 22949 square meters and will concessioned for 20 years, indicated Karla Gonzalez, Minister of Public Works and Transport.
The Houston Airport System consortium will become the new airport administrator in December, replacing Alterra Partners.
Yesterday, the Office of the Comptroller General authorized the transfer of the management contract that was held by Alterra since 2001.
Before finalizing the transfer, Houston Airport System Development Company (HASDC) must pay the debts that Alterra had with banks creditors of the airport.