OFF THE CUFF: Tocumen income up 6% as cookie jar closed

REVENUES at Tocumen S.A., the company that operates Tocumen International were up 6.1 percent in the first quarter of 2015 as compared to the same period the previous year largely due to adjusting some cozy insider deals handed as the previous administration, gave some companies access to the cookie jar, as they paid rates far below market value.

 Income reached $39.6 million, while the previous year it was $37.6 million.
With these numbers, Tocumen reported a net profit of $13.9 million, an increase of $2.4 million.
The increase is related to a rise in the rates the facility charges to businesses in the terminal.
 In some cases, the payment per square meter went from $100 to $400, which standardized the rates.
Airport Manager Joseph Fidanque III indicated that the largest increases were applied to concessions that were granted directly during the last administration.