• September 16, 2019

This month at the Airports Council International (ACI) World Customer Experience Global Summit in Indonesia, Daniel Oduber Quirós International Airport in Liberia, Costa Rica (LIR) was awarded the Best Small Airport in Latin America and the Caribbean based on service key performance indicators reported by visitors, including check-in efficiency, wait times, and security.  Airport CEO Cesar Jaramillo and the international financial institution supporting the transaction recognized Nathan’s effective support throughout the last ten years, led by Mr. Rafael Enriquez, Senior PPP Expert, in establishing a successful public-private partnership to improve performance and competitiveness of the second largest airport in the country.

Nathan’s Infrastructure Project Development & Finance team has been involved with the airport since 2010, when the Government of Costa Rica granted a 20-year, $40.5 million concession agreement to design, finance, construct, rehabilitate, expand, maintain and operate a new passenger terminal at LIR.

Jeffrey Singer, Senior Vice President, said: “Our team has worked on the LIR airport in various capacities for almost a decade, and we are so excited about this recognition from the ACI. We look forward to continuing our work on high-impact public-private partnerships in the aviation sector and beyond.”

Photos of airplane at gate and cafe in the concession area at Daniel Oduber Quirós International Airport
The Daniel Oduber Quirós International Airport concession has been very successful, largely due to the clarity and transparency of the regulatory framework in Costa Rica as well as of the Concession Contract. The project had a realistic financial structure, a strong market analysis and demand forecast, and a clear allocation of risks and benefits.

Mr. Enriquez led Nathan’s team of advisors in conducting a full credit due diligence analysis to confirm traffic forecasting as well as the financial, economic, and technical feasibility of the airport expansion plan. Nathan reviewed the legal and regulatory framework in Costa Rica and the terms of the concession contract, and supported the banks during the financial closing due diligence. Following loan approval, the banks (first BICSA and then IDB Invest) appointed Nathan as independent engineer during the construction, commercial development, and subsequent terminal expansion phases to certify that that airport was constructed and is operated following international best practices. Currently our Infrastructure Project Development & Finance team is overseeing the implementation of the energy-efficiency plan, which incorporates the use of solar panels for greater energy self-reliance.

Since Nathan’s efforts began in 2010, the airport has grown 265% to reach 1,135,934 passengers in 2018, serving 16 airlines and 18 non-stop destinations in the US, Canada, Central America, and Europe, boosting tourism in the region and generating a direct economic impact in the Guanacaste region roughly estimated at more than a billion dollars annually.

Nathan advises governments, financial institutions, and private investors to achieve successful public-private partnerships in aviation, land and maritime transport, energy, and telecommunications worldwide. For more information, please contact Sean Keogh at or Rafael Enriquez at .

Learn more about Nathan’s work in:

• Transaction Advisory Services & Project Finance Structuring
• Master Planning & Market, Financial, & Economic Feasibility Studies
• Asset Performance Assessment & Monitoring
• Financial Services

About Nathan
Nathan is a private international economic and analytics consulting firm that works with government and commercial clients around the globe to deliver practical solutions and achieve lasting results. Whether building frameworks for economic growth or navigating regulatory hurdles, securing infrastructure financing or evaluating and assessing disputes, Nathan’s experts serve as trusted partners, offering clients the analysis, technical advice, and strategies they need for sound decision-making.

Known for both technical and service excellence, Nathan has corporate offices in the US, UK, and India and more than 40 program offices around the world. More information about Nathan can be found at nathaninc.com.

Media Contact: +1 703 516 7795

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