Tocumen airport to deliver $86 million to State

 THE STATE   will receive $86 million in dividends from Tocumen International Airport, during the years that President Juan Carlos Varela holds office.

The payments kick off with $8 million this year and annual payments will rise until 2019 when a dividend of $28 million is forecast.

The entity’s Director, Joseph Fidanque III indicated that the projections are based on passenger traffic, which will increase when the expansion to the terminal is completed. The expansion will also increase revenue from concessions.

The south terminal is expected to be completed in 2017 and is  expected to generate $15 million in extra revenues.

The airport is also expected to collect some $183 million in tax revenue.

The dividend represents between 40 percent and 50 percent of the net income from the airport.

Tocumen expects to close this year with $174.6 million in revenue, an increase of 11.9 percent compared with last year.

In addition to dividends and taxes, Tocumen also contributes funds to the Panama Tourism Authority, which receives 25 percent of the $40 departure tax.