On February 14 this year, Lima Airport Partners (LAP) marked the 20th anniversary of its concession for managing, operating and developing Lima's Jorge Chavez International Airport (LIM). Fraport AG, the Frankfurt-based global airport operator, owns 80.1% of LAP, with the remaining 19.99% stake held by International Finance Corporation (IFC) of the World Bank. Recognising the potential of LIM and its geographic location from the start, Fraport and LAP wasted no time in setting about modernising the gateway's infrastructure and fine-tuning operations after taking over responsibility for operating it early in the new millennium. Indeed, LAP invested some $4 million on the airport in the first six months of the concession, focusing on improving passenger services and upgrading the visual appearance of the aging terminal. That figure had grown to $10 million by the end of 2001, the investment including the start of a number of projects outlined in LAP's first expansion programme for Lima Airport.
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