One of South America’s fastest growing airports is looking to further increase its growth. Lima Airport Partners -a Fraport AG owned company- announced earlier this week its plans for a $1.5 billion dollar expansion of Lima’s Jorge Chavez International Airport. The plans call for the construction of a second runway, a larger number of aircraft parking spaces and taxiways, a new terminal for passengers, a new cargo terminal, and additional access ways to the airport.

Scheduled to start in 2018, the huge expansion was made possible by an amendment to the 2001 Lima Airport Concession that allowed the Peru government to hand over airport land to private developers. This announcement also marks the last and largest phase in a three phase expansion commenced by the airport in 2005.

LIM’s airport expansion plans. Photo Credits: LAP (Lima Airport Partners)

Lima’s Jorge Chavez Airport currently serves 46 international and 23 domestic destinations from Peru’s capital city. In 2016, the airport served 18.8 million passengers, and in the first half of 2017, the airport welcomed 9.7 million passengers. At the current rate, LIM will witness a 8.4 growth rate -almost on par with its annual growth rate of 10.6 percent from 2001 to 2016.

 

Photo Credits: LAP (Lima Airport Partners)

Airport officials show confidence in their plans to modernize the airport. Fraport AG executive board chairman Dr. Stefan Schulte said, “We thank the Peruvian government for reaching this landmark agreement with Lima Airport Partners.  This step forward is critical for Lima Airport’s continuing success as a win-win concession for all. One of the most successful airports in Fraport’s global portfolio, Lima has consistently achieved strong growth, a high level of customer service and recognition, and it offers great potential for Peru and South America.” Juan José Salmón, the CEO of Lima Airport Partners, S.R.L., noted that, “This comprehensive and mutually beneficial agreement with the Peruvian government will provide the necessary land and framework for advancing our major expansion of Lima Airport.  We are proud of the achievements made during the first 16 years of the Lima Airport Concession.  We are also excited to be on the threshold of developing the future potential of Lima Airport for the benefit of our passengers and partners, as well as Peru.”

The winner of the Skytrax awards “Best Airport in South America” for 7 consecutive years and 50 best employers in Peru, Lima’s Jorge Chavez airport’s latest aggressive expansion highlights the Peruvian government’s optimistic vision for the future of the airport.

Featured Image by LAP (Lima Airport Partners)