Caribbean Airlift
Adam Greenfader
Real Estate Development & Advisory | Miami - Caribbean - Puerto Rico
In the Caribbean, airlift equals economic growth, tourism, and a multiplier for many other opportunities. Public-private partnerships between islands and private companies have been especially effective in generating large infrastructure investments and increases in airlift.
In 2013, The Puerto Rico PPP Authority granted a 40 year concession to Highstar Capital IV and Grupo Aeropuertario del Sureste. The Luis Munoz Marin International Airport (SJU), with 9.6 Million passengers in 2019 was the largest and busiest airport in the Caribbean.The Luis Munoz Marin Airport (SJU) was the first FAA approved P3 airport in the United States. The concession generated a $615 million upfront payment. It also included $253 million dollars in renovations by the operator Aerostar.
Since the award of the P3,?the number of annual passengers to Puerto Rico has increased from 8.5 million passengers in 2013 to 9.6 million in February of 2020. Presently the Luis Munoz Marin Airport is served by 35 airlines and 1,300 weekly non-stop flights to 81 markets. The P3 has opened new routes in Mexico, Spain, and in US cities such as New York, Boston, Orlando, Philadelphia, Hartford, Dallas, Houston, Baltimore, Washington, and Chicago. To learn more about other airports in??Puerto Rico.?https://www.discoverpuertorico.com/transportation/airports
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In 2020, Puerto Rico was granted the first and only U.S. Department of Transportation waiver. The waiver is in effect a?Jones Act exemption and permits the?international transfer of passengers and cargo.??The total cargo moved through the SJU Airport has increased by 47%. To learn more?https://www.investpr.org/transshipment
The Puerto Rico PPP Authority is currently seeking a new P3 for the remaining 9 airports in Puerto Rico. This includes 2 international airports. This project has been classified as a priority project by the Governor of Puerto Rico.?
To learn more about this and other P3 airlift projects DM me or visit us at CHRIS in Miami next week for the Caribbean Airlift Public Private Collaboration.??To learn more:?https://www.burba.com/CHRIS/Program
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Sr Commercial Underwriter Manager / VP Portfolio/ Asset Recovery / Risk Management / Collections & Litigation
3 年Hi Adam, my names is Jaime Ariza and I am business Development manager for Acrecent Financial Corp in PR. A collegue of mine, James Connor, sent me your contact information and given we are financing space, not being covered by local banks at the time, I though I would reach out to you in case you are in need of partner in projects for Puerto Rico. My phone is 787-360-6725 and my mail is [email protected] in case you want to reach me. Regards.
President - Altor Canada -Multilingual Owner’s Rep. Construction Development & Acquisition Services-English-Spanish-French
3 年Great, thanks for sharing Adam!
Founder: Doo Duty Saskatoon ?? | Mexico Relocation with Parrish: Helping You Move Stress Free to a Simpler Life in Paradise??
3 年Excellent