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NEWS Last modified on May 24, 2019

Fraport increases stake in Lima airport operator

Global airport operator, Fraport AG, has expanded its stake in Peru's Jorge Chavez International Airport by acquiring an additional 10% stake in Lima Airport Partners (LAP).

The acquisition, from AC Capitales’ Infrastructure Fund, raises Fraport’s majority ownership in LAP to 80.01%.

Fraport simply notes that the deal strengthens its position as LAP’s main shareholder and airport operator during an important expansion and growth phase for Lima airport.

The planned expansion programme comprises a second runway, a new passenger terminal, as well as related facilities and infrastructure.

LAP’s concession to operate and manage Lima Airport began in 2001, when Lima Airport served about 4.1 million passengers.

In 2018, Lima Airport welcomed 22.1 million passengers, up 7.3% year-on-year.

Serving as a popular hub in South America, Lima Airport has been honored as the “Skytrax Best Airport in South America” a total of nine times (including for 2019).

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