Costa Rica Airport Transfer to HAS Must Wait a Few More Days

The much awaited transfer of the Juan Santamaria International Airport from concessionary Alterra to Houston Airport System (HAS) must wait at least 9 more days due to missing information in the Rescue Plan presented by the Civil Aviation Technical Council (Cetac).

Although Cetac turned in the Rescue Plan on time, important financial information was omitted thus requiring Cetac four more days in completing the required information.  The National Comptroller Offices in Costa Rica was forced to extend its deadline for the transfer resolution.

The Rescue Plan consists in transferring 95% of Alterra’s shares to HAS due to Alterra’s blunder in keeping its part of the deal.  HAS has ample experience in the airport industry as it manages Houston’s three main airports as well as Quito’s airport.  As concessionaire of the Juan Santamaria International Airport, HAS promises to invest approximately $140 million in renovations and expansions in no more than 12 months.

Alterra gave in to transferring its shares after several banks denied financing claiming financial instability on behalf of Alterra.  After this incidence, Alterra nor the Costa Rican government were able to reach in agreement that would allow Alterra to continue with the airport expansion.

Cetac then stepped in with the Rescue Plan proposal that would allow for a third concessionaire to take over the Juan Santamaria International Aiport.

The action has received the support of several industry leaders including TACA CEO Robert Kriete. Kriete stated that TACA has plans to increase its presence in Costa Rica once the airport issue is resolved.