Ecuador's New Quito International Airport signed a renegotiated financing deal for its construction on 09-Aug-2010 (Dow Jones, 10-Aug-2010). In Oct-2010, Quito's mayor, Augusto Barrera, commenced talks for the renegotiation of the airport-construction contract held by Corporacion Quiport SA. The new deal will see Quito's revenue from the project increasing from USD295.7 million to USD877.7 million over the 35-year contract. The original contract was signed in 2001. The new airport is scheduled to commence operation by Nov-2011. The new financing deal requires approval from Ecuador's attorney-general's office and other government organisations.
Ecuador signs New Quito Airport finance deal
You may also be interested in the following articles...
Havana Jose Marti International Airport: Exciting times and the opportunity to become a regional hub
As a result of the restoration of diplomatic relations between Cuba and the United States of America the US President Barack Obama visited Cuba in Mar-2016. In his speeches he placed heavy emphasis on youth, generational shift and the future (the main protagonist of the old guard, Fidel Castro, rejected Obama's visit and his words of reconciliation). This has whetted the appetite of airlines, airport operators, ATM providers and investors seeking opportunities there.
Indeed, and even though Cuba has long been receiving flights from many countries if not from the US (where only ‘special circumstances’ applied), it is possible to bracket these events with other similar outcomes in countries such as Iran and Myanmar. Suddenly, Cuba is ‘open for business’ in the eyes of the western world, but that might not quite be the case. There is a long way ahead and there is a lot to be done, with no guarantees.
This report, while dealing briefly with wider aviation and, indeed, economic issues arising out of the rapprochement, focuses on the country’s leading airport, Havana’s Jose Marti International - and how it stands to gain from these developments; particularly if it could become a regional hub.