Lufthansa is ready to become the next major airline offering year-round flights to Panama City.
The German mega-airline is preparing to offer flights to Panama for the first time, five times a week between Frankfurt and Panama City, which should help expose the city’s property market to a wide range of new European travelers. Service would begin in November, if the government approves the new routes, according to a media report. Lufthansa discussed bringing flights to Panama last year, but now appears ready to move forward.
Lufthansa is also expanding its relationship with Copa, the rapidly expanding Panama airline, which will help connect European passengers to Latin America and re-enforce Panama City as the regional hub for business and tourist travelers.
While the easy availability of flights might primarily sound like a boost for tourism, there is a direct co-relation between air routes and property sales. More tourists means more international travelers exposed to Panama City. And industry studies have shown readily available flights plays a major role in the purchase decisions of second home buyers and investors.
The Lufthansa announcement comes on the heels of news that Copa is continuing to expand its network of flights from the United States. The latest addition is New Orleans, where the airline is reportedly set to add four weekly flights. Copa has also added service to Boston, Ft. Lauderdale, Las Vegas and Tampa.
More information on the growth of flights to Panama can be found here.
Duncan McGowan is president of Punta Pacifica Realty, a Panama real estate agency focused on Punta Pacifica, the exclusive neighborhood of 18 towers perched on the edge of the Pacific Ocean.