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Latino Daily News

Monday October 17, 2011

Costa Rica’s Main Airport Completes 3-Yr Restructure, Ready to Double Passenger Capacity

Costa Rica’s Main Airport Completes 3-Yr Restructure, Ready to Double Passenger Capacity

Photo: Costa Rican Airport Upgraded and Expanded

Click Here to Enlarge Photo

Costa Rica’s Juan Santamaría International Airport in San José has successfully completed a three-year restructuring 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).

Last month, the IDB and OPIC disbursed $100 million in loans to Aeris Holding S.A., the airport’s operating company, owned by sponsors Brazil’s Andrade Gutierrez Concessões and ADC & HAS Finance Ltd.

Juan Santamaría International airport, Central America’s second biggest airport, receives 85 percent of all international arrivals in Costa Rica and 80 percent of all tourists that arrive into the country.

The restructuring and financing is the result of close work between the IDB, OPIC, the sponsors and the Costa Rican government to revamp the airport operations, complete all pending construction works under the first two phases of the expansion program, restructure existing debt and obtain additional financing to complete new expansion phases.

“This project has provided the financial structure and contractual stability for the airport to continue to expand and meet rising demand,’’ said Gian Franco Carassale, the project team leader at the IDB’s Structured and Corporate Finance Department. “With the completion of the first two phases of the expansion plan, the airport now has the capacity to better serve its passengers and airlines and become an important transportation hub in Central America.”

These works included a terminal extension to permanently house security, immigration and customs processing, additional hold rooms, renovation of existing and new boarding bridges, remote stands for buses and an additional remote parking positions, and reconstruction of the apron and one of the taxiways, among other investments.