Lima Airport Partners (LAP)

Jorge Chavez International Airport (Lima Airport) Expansion - Financing

Industry
Infrastructure/Airport
Area of finance
Project & Infrastructure Finance
Region
Latin America
Countries
Peru

Deal Overview

This financing will be used for the expansion of Jorge Chavez International Airport in Lima, Peru.The Jorge Chavez International Airport in Lima, Peru, is the country’s largest international and domestic airport. Lima Airport Partners (“LAP”) has been operating the airport under a...

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This financing will be used for the expansion of Jorge Chavez International Airport in Lima, Peru.

The Jorge Chavez International Airport in Lima, Peru, is the country’s largest international and domestic airport. Lima Airport Partners (“LAP”) has been operating the airport under a government concession since 2001. A growth in domestic and international travel demand, pre-COVID, has necessitated expanding airport capacity to accommodate more travelers. 

The existing terminal has been operating at peak capacity of ~21mm for the past five years up to and including 2019, peaking at ~24mm in 2019. This is especially noteworthy given the major share of domestic travelers (56% in 2019) of total travelers, in the absence of suitable alternatives for long-distance transportation in the country. The expansion consists of the construction of a new terminal, apron, parking stands, access roads, and utilities complex as well as the construction of a second 3.5 km runway, connection taxiways and apron, a new control tower, and new firefighting system. Total capex is $1.5bn.

The Airport is one of the most important airports in the region based on total passenger movements and has been outperforming its passenger forecast in the last 10 years before the COVID-19 outbreak. The airport has received international recognition for its quality of service and is a constant regional competitor. It has been recognized as the “Best Airport in South America” by Skytrax several years in a row, most recently in 2019.

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Deal Volume
$ 1.05bn
Financial Close
15 December 2021
Sources
Submitted by participant(s)

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Projects

Jorge Chavez International Airport (Lima Airport) Expansion

Brownfield
Airport
Latin America
Peru
$ 2bn