In April 2014, Panama and Singapore signed an agreement authorizing air services to promote an international aviation system. Their goal is to create competition between airlines which serve these countries. The agreements have very subtle government intervention, taking into consideration that its number one objective is to enhance trade relations between Asia and Latin America and to expand the air market.
Meanwhile, IAG Cargo (International Airline Group) announced an increase in the amount of flights offered between its hub in Madrid and Panama City. IAG Cargo exposed its intentions to contribute to the commercial relations between the European and Latin-American market using the most relevant locations at the moment. This June, one more Madrid-Panama flight will be introduced to the 5 flight weekly schedule and it’s expected to have one daily flight for July. Among the new projects it is also considered to increase the cargo’s capacity to give a better product transportation service to its clients.
The commercial delegate for Latin America, Rodrigo Casal, exposed his great interest in offering better services to complement the existing routes between Europe and Latin America, giving easy, comfortable and efficient access to the most important commercial spots. IAG Cargo connects 350 destinations around the world; and Panama, which until now had low relevance, has become the hot spot for the air industry.