Transit through Tocumen International Airport grew by almost 20% during 2011, reaching 6 million passengers, up from the 5.1 million recorded in 2010. It is estimated that in 2012 the figure will be between 6.4 and 6.6 million.
An article in Prensa.com reports: "The increase was the result of the 12 new frequencies which Copa Airlines incorporated last year as well as new flights by Iberia and KLM from Europe, said the manager of Tocumen, SA, Juan Carlos Pino. Given this increase, Pino pointed out that they have accelerated the master plan made in 2003 for the upgrade of the airport and they expect to receive the conclusions of the study in January. A third runway is also planned over the next five years as aircraft movement has increased in the last two years. With the updates to the master plan work is projected to take place in Tocumen over the next 25 years, starting with the construction of the South Terminal. This project will not be different from the north pier, as it will be a completely separate terminal, with its own migration section, security areas and parking lots. The plans for Tocumen indicate that the tender for the South Terminal will be made in the first half of 2012, and construction started later this year. The investment amount is $350 million, which includes 20 additional gates. If completed by 2015, the airport would have 54 gates in total. "
The airport structure will cost about $400 million and be 50,000 m2 announced Panamanian authorities.
The manager of Tocumen, SA (administrator of the international airport), Juan Carlos Pino, said that the tender for the South Terminal at Tocumen International Airport, Panama will be released in March, and the works are expected to cost $400 million.
With an investment of $100 million the works of the Panama Airport North Terminal have been inaugurated.
A press release from the Tourism Authority of Panama reads:
The north terminal at Tocumen International Airport has been formally opened, a project which was developed with an investment of $100 million, as part of the expansion and remodeling of the main air terminal in Panama.