The airport, which had the newest terminal in Ecuador, was renamed for José Joaquín de Olmedo in 2006, in preparation for the inauguration of the new 50,000 m2 (540,000 sq ft) national and international terminal on 27 July 2006. Although there was an inaugural flight on 28 July 2006, most airlines did not operate completely from the new terminal until August 2006. After that date, the old terminal was closed and it was later turned into a convention center. The construction of the new terminal and expansion of the runway was finally decided in 2003–2004, years after making the decision that the current infrastructure was not sufficient to cover the city's needs, but that it was not yet commercially viable to build an entirely new airport in the Daular area. The original project in 2003–2004 contemplated the construction of a 28,000 m2 (300,000 sq ft) international terminal and the continuing operation of the old terminal, which would be left to handle only domestic flights. However, it was later decided that the newer 50,000 m2 (540,000 sq ft) terminal would handle both national and international traffic, and the older terminal would be closed. The airport is planned to serve the city of Guayaquil for 10 to 15 years starting in 2006. After this, it is expected to reach a capacity of 5 million passengers a year, and when this happens a new airport will be built in the Daular area, some 20 kilometers outside the city, near the highway that connects Guayaquil to Salinas and other coastal towns. José Joaquín de Olmedo International Airport was named "Best Airport in Latin America 2008 & 2009" by BusinessWeek and the second best in 2011. All domestic flights going from the Ecuadorian mainland to the Galápagos Islands make a stop in Guayaquil to refuel and pick up passengers due to its location, which is the closest point in Ecuador to the islands.