SATS Ltd. (SATS) and Aeropuerto Internacional de Tocumen, S.A. (PTY), the operator of Panama’s Tocumen International Airport, announced the signing of a Memorandum of Understanding (“MOU”) to explore strategic collaboration opportunities to strengthen air cargo connectivity and support the development of Panama as a leading logistics gateway for the Americas.
Under the MOU, SATS and PTY will explore opportunities in cargo area development at the Tocumen International Airport and air cargo handling facilities and operations within Tocumen Cargo City, in line with the airport’s master plan. The partnership will also draw on SATS’ global air cargo handling expertise and network to support trade flows through Panama.
Building on Panama’s and Singapore’s vital roles in global trade and logistics, this partnership seeks to leverage the strengths of both hubs to deepen trade connectivity, develop new cargo flows and support the growing movement of goods between Asia and the Americas. Such collaboration, together with the future development of Tocumen’s cargo precinct, will likely support the creation of new jobs within the airport ecosystem.
Kerry Mok, President and Chief Executive Officer of SATS Ltd., said: “Singapore’s development as a leading trade and logistics hub has been built on strong partnerships across the aviation and supply chain ecosystem. Drawing on our experience across major cargo gateways and our global network of over 225 stations in 27 countries, SATS is pleased to partner with PTY as it advances its vision for Panama. Together, we will explore opportunities to strengthen cargo capabilities, improve the movement of goods and support growing trade between Asia and the Americas.”
Jose Ruiz Blanco, General Manager of Tocumen International Airport, said: “Panama and Singapore share a natural role as strategic gateways for global trade and connectivity. Having seen Singapore’s logistics development firsthand, I understand the value that a long-term vision has brought to its growth. This understanding with SATS gives us an opportunity to explore new capabilities for Tocumen, strengthen our cargo platform and expand trade connectivity between Asia and the Americas.”
