Alterra's Future To Be Known Today
The future of Alterra Partners in Costa Rica - the managers of the Juan Santamaría (San José) international airport will be known today, as the time to give the government an answer on the latest proposal is due today.

Alterra and its bankers were given the time to study the government's proposal for the completion of the construction and the continuing management of the San José airport.

One of the issues is the amount of fines that can be imposed by the Consejo Técnico de Aviación Civil (CTAC) on Alterra for non-completion of its responsibilities.

Alterra's bankers want the fine to have a ceiling of us$9 million, while CTAC says there should be no limits, as it will continue to fine the manager if it does fulfill its contractual responsibilities.

Government authorities also did not agree with the postponement of completion of phases III and IV of the airport until Alterra has financing in place.

If Alterra and the government cannot come to terms, the government said it is prepared to take back the management of the airport.

The Asociación de Líneas Aéreas (ALA) - airlines association - are keeping a hope that both parties will come to some agreement and that the completion of the Juan Santamaría will be made before the start of the high tourist season.

The work delays at the airport have caused series problems for the airlines from an operations point of view and inconveniences to travellers using the airport.

If the Alterra bankers decision is positive, the deal will then go to the Contraloría General de la República (Comprollers office) for ratification.

To the contrary, CTAC said it will move ahead with the process of cancelling the Alterra contract, which the technical committee will then have 45 days to find a new arrangement and 30 days to announce a new manager for the airport.