Lima’s Jorge Chavez Airport a Benchmark for Latin American Airport Investment

Staff Writer

January 15, 2019

lima jorgechavez

The longstanding concession on Lima’s Jorge Chavez International Airport has become something of an aspirational benchmark for Latin America and a feather in the cap of the majority shareholder, Germany’s Fraport AG. Fraport regards the Lima concession as one of its most successful and a “win-win” for all. Indeed, Fraport has described it as “one of the most successful airports in Fraport’s global portfolio; consistently achieving strong growth, a high level of customer service and recognition, and one that offers great potential for Peru and South America”. Market information indicates that a minority stake in Lima Airport Partners (LAP – the local operating company) may come to market in early 2019. At the same time, LAP is embarking on an estimated USD1.5 billion expansion project, adding a second runway and a new terminal. The airport is operated on what was initially a 30-year concession from 01 February 2001. Lima Airport Partners (LAP), a limited liability company, is comprised of Fraport (70.1%); the International Finance Corporation (19.99%); and the Fund for Investment in Infrastructure, Public Services and Natural Resources (10%), managed by AC Capitales SAFI S.A. U.S. construction conglomerate Bechtel and the now defunct Alterra Holdings have at various stages exited ownership.

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