REVENUES bounded 22% while expenses fell in the first seven months of the year at Tocumen International Airport.
The perfect formula for a healthy balance sheet puts the Panama gateway to Latin America on track to a year end income of at least $220 million.
The international airport generated revenues of $126 million in the first 7 months of the year, 22 percent above the same period of the previous year.
The revenues have been driven by the increase in the departure tax from $40 to $50.
The arrival of new flights from Europe on Turkish Airlines and Lufthansa Airlines has also had a positive impacted on the airport’s cash flow..
Duty free glitch
The rise in revenues occurs despite a decrease in income from duty free stores in the terminal.
This amount fell by 40 percent in June and July due to the inclusion of the Wisa Group on a sanctions list issued by the U.S. government for alleged ties to money laundering.
Wisa, together with Grupo Motta, controls most of the duty free shops in Tocumen, which generates 7 percent of the income.