The Transports Minister just announced the new Cusco airport at Chinchero (US$400 millions) will be ready in 4 to 5 years. The current Cusco airport will be closed once the new one starts operations.
He realizes the Velasco Astete airport is "about to collapse" (saturation) so it will be improved to support aditional flights. This includes airstrip lights for night flights.
The new airport will receive direct international flights, not needing to stop in Lima (that could create an impact in Lima tourism, that's why they are creating the Lima brand and other ideas).
New Cusco Airport