News

Fast-growing Tocumen International Airport is exploring future expansion plans, including the addition of a third runway and terminal.

CAF, the development bank of Latin America and the Caribbean (and a major player in the redevelopment of Obarrio), together with the Multilateral Cooperation Center for Development (MCDF), recently announced plans to hire a consultancy to “design the strategic alternatives that will define the future of the Hub of the Americas.” The study will focus on the future expansion of the airport, primarily “the configuration of the third runway, airspace and terminal area.”

A third runway, coming on the heels of the recently opened second terminal, would represent a major expansion of the “Hub of Americas,” and provide a major boost to the economy. The airport is a key driver for trade and tourism, and provides a key indicator of the country’s growth trajectory.

Earlier this month, Tocumen announced that global passenger traffic through the airport grew 8% in the first nine months of 2025. In September alone, Tocumen Airport handled 1.7 million passengers, an increase of 9% compared to the same month in 2024.

The airport also announced plans to invest $56.9 million in a comprehensive rehabilitation of the runways and taxiways, “reaffirming this administration’s commitment to the modernization of the main gateway to Latin America and to strengthening the country’s competitiveness.”

CAF put out a call for consultants with airport planning and development experience to work on “Tocumen 2050 – Strategic analysis and selection of the long-term development model for Tocumen International Airport. The study will define “strategic expansion alternatives” and “explore the configuration of a third runway, airspace, and terminal area, based on criteria of sustainability, efficiency, and economic viability, in order to provide key inputs for the airport’s Master Plan.”

The “optimal expansion strategy” will focus on the location and configuration of the future third runway, the terminal area, and the airspace (TMA). The study will include analysis of the Economic evaluation and financial viability of options, as well environmental impacts and technical operations.

The results will “serve as key input for the airport’s future Master Plan,” according CAF’s statement.