The airport is important for the Amazon region, as it is the main gateway to the rest of the country and serves the tri-border area between Colombia, Brazil and Peru.

Before Leticia had an established airport, the Colombian Air Force flew PBY Catalina aircraft from the interior of Colombia to the river banks of the city.

In 2015, Juan Manuel Santos, the then president of Colombia, announced an investment of over $142 billion Colombian pesos (or $42 million US dollars) to replace the existing facilities with brand new passenger and cargo terminals, control tower, parking and common areas, and access roadways.

[5] Two hundred international tourists were trapped in Leticia after the highly-contagious Brazilian variant of COVID-19 virus was discovered in the city on January 28, 2021.

Two weeks later the government agreed to fly the tourists out of the Alfredo Vásquez Cobo airport if the individuals were willing to pay.