Fraport celebrates 10th anniversary of Lima Airport concession
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Posted: 3 February 2011 | Fraport | No comments yet
Fraport AG and its majority-owned Lima Airport Partners (LAP) joint venture company celebrated the 10th anniversary of the successful Jorge Chavez International Airport Lima concession…
Last night in the Peruvian capital, Fraport AG and its majority-owned Lima Airport Partners (LAP) joint venture company celebrated the 10th anniversary of the successful Jorge Chavez International Airport Lima concession, which began in February 2001. The event was attended by Peru’s first vice president Luis Giampietri and other high-ranking business and political leaders — underscoring the airport’s significance as a key gateway for the country. Speaking at the event, Fraport AG’s executive board chairman Dr. Stefan Schulte said: “We are proud of this win-win airport privatization concession which benefits not only travelers worldwide but serves as a strategic aviation gateway for Peru and the region.”
“We have demonstrated our dedication and long-term commitment to this project. Traffic has grown from less than 4 million passengers in 2001 to more than 10 million in 2010. Jorge Chavez was the first airport to achieve investment grade status in the region. Lima Airport has won numerous awards because of its commitment to quality and high service standards. And, Lima Airport Partners has transferred more than $700 million to the Peruvian government since the beginning of the concession,” Schulte added.
Lima Airport (LIM) welcomed about 10.3 million passengers in 2010, surging by 17.0 percent year-on-year. Since Fraport took over operations a decade ago, LIM has recorded a 10.8 percent compounded annual rate of growth in passenger traffic. Last year, passenger growth was driven, in particular, by additional frequencies on domestic routes. LIM handles well over 90 percent of the country’s international traffic. More international routes are expected in 2011, including several European destinations. Cargo throughput also advanced last year by 17.0 percent to nearly 272,000 metric tons, while aircraft movements climbed by 14.8 percent to more than 120,000 takeoffs and landings. Thus, LIM continues to strengthen its position as a regional air transportation hub for Latin America.
LAP took over the operation of Lima Airport on February 14, 2001. Fraport has a 70.01 percent shareholding in Lima Airport Partners, followed by International Finance Corporation (IFC) with 19.99 percent and AC Capitales Safi of Peru (Fondo de Inversión en Infrastructura, Servicios Públicos y Recursos Naturales) with 10.0 percent. Under the 30-year airport concession (with a 10-year option to extend) Fraport assumed the contractual role of airport manager and is responsible for operations, security, planning, maintenance and other activities.
Since 2001, Lima Airport Partners (LAP) has invested $272.5 million in modernizing and expanding the passenger terminal as well as improving airside infrastructure, computer and communications systems, and enhancing customer service. Milestones have included redevelopment of the terminal complex, the new Peru Plaza shopping mall in 2005, new gates and passenger loading bridges, various other airside improvements, implementation of SAP computer applications and Red Gigabit – an advanced computer communications network for LAP and other users of the airport community.
“For the future, we see further growth and development. Jorge Chavez International Airport will continue to be a very important part of the Fraport Group family, and we will continue to develop the airport’s capacity – as the main gateway to Peru and the leading gateway to the region,” added Schulte.
Fraport AG’s know-how has played a significant role in modernizing and expanding Peru’s international air transportation gateway during the past decade. Along with implementing high international aviation standards, LAP offers passengers a world-class and economically successful airport. LIM www.lima-airport.com) serves as an attractive calling card for this fascinating Andean country and the surrounding region. Peru’s vast tourism and economic potential and its strategic geographic location are important advantages for further developing Lima as a leading Latin American gateway.