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Panama has had a number of air forces over the years. The most recent version is the Servicio Aerea Nacional, the Panama National Air Service. The Panama National Air Services was in the news this last week when Pratt and Whitney published its crash report of a National Air Service helicopter last year.

Panama’s National Air Service has been in operation under this name since 1990, just after the reinstitution of democratic government. Last year when one of the National Air Service helicopters crashed into a busy department store in Panama City the service had seven functioning aircraft, six after the crash, out of twenty in its fleet.

The current version of Panama’s air force is having problems keeping its aircraft flying. However, after the crash last year $10 million has been dedicated to repairing aircraft. Of that money $4 million has been spent although there are no public reports of how many more aircraft are able to fly.

Panama investment has kept the country out of the recession but that has primarily had to do with real estate in Panama, construction, and the Panama Canal infrastructure. The sad state of the National Air Service is a surprise in a country that by in large has systems that work.

For history buffs this is the fifth air force in Panama. The one preceding this one had a number of aircraft of which most were lost during the US invasion to remove Manuel Noriega.

Since the crash Panama has purchased two new helicopters. The published figures show aircraft purchases and money allocated for repairs of non-functional aircraft but not a routine maintenance budget.

Considering that maintenance items were primary in Pratt and Whitney’s crash report that should be a primary concern.

Unlike the days of Noriega and before the system is functioning. The press is reporting the issues and repairs are contracted out. This openness in directly related to Panama’s economic success. Panama’s domestic economy is still growing despite the recession elsewhere. For the first four months of 2009 Panama’s GDP grew 1 percent which is 3 percent per year annualized.

The new administration seems to be about business with adjustments in the tax code and plans for substantial public works projects meant to improve Panama’s infrastructure and provide jobs.

Construction is booming and, thinking of general levels of competence, there are sixty story buildings in Panama that work just fine. It appears that the construction trades know what they are doing. In fact it appears as though the construction industry has added jobs this year in contrast to almost everywhere else.

With the ongoing construction there is continually more real estate up for sale. With the recession keeping high-end buyers away there are some great deals on Avenida Balboa and in other areas with new construction.

If you are interested in a good deal in new Panama real estate come to talk to us at ABPanama. We are bilingual, do business throughout Panama, and have over 23 years experience managing real estate portfolios.