Hurry up and wait: Airlines strike deal for $344M expansion at JFK

American Airlines, British Airways pact adds to existing $13B renovation

New York /
Feb.February 06, 2019 03:00 PM

British Airways planes at JFK Airport (Credit: Getty Images)

The growing renovation efforts at John F. Kennedy International Airport will no longer fit into the overhead storage bin.

The Port Authority, American Airlines and British Airways have reached a $344 million terminal expansion deal at the airport. The project adds to a $13 billion expansion and renovation effort taking place at JFK over several years and will add more gates to Terminal 8, letting British Airways move there from Terminal 7, according to Crain’s.

The broader expansion effort includes $12 billion of private funding and $1 billion of Port Authority funding. LaGuardia Airport is undergoing $8 billion worth of renovations as well.

A quartet of foreign carriers—Lufthansa, Air France, Japan Airlines and Korean Airlines—has pledged $7 billion to replace Terminals 1 and 2 at JFK with one large terminal that includes 23 gates and 230,000 square feet of stores. But the project does not include a new runway, which some have said is very important to handle the increasing number of passengers at the airport. [Crain’s] – Eddie Small


Related Articles

arrow_forward_ios
Floor & Decor CEO Thomas Taylor and 4 Henry St in Commack (Floor & Decor and Google Maps)
Floor & Decor moving into site of shuttered Target in Commack
Floor & Decor moving into site of shuttered Target in Commack
Mayor Steven Fulop (Getty, iStock)
Jersey City to provide up to $10K more rent relief per tenant
Jersey City to provide up to $10K more rent relief per tenant
Atlas Hospitality Managing Member Raj Guru and Vinod Chand with 711 Seventh Avenue (Atlas, Google Maps)
Atlas plans 401-room hotel at 711 Seventh Avenue
Atlas plans 401-room hotel at 711 Seventh Avenue
Social Construct's co-founders Ben Huh and Michael Yarne (iStock)
Proptech startup Social Construct shutting down
Proptech startup Social Construct shutting down
AEW Global CEO Jeff Furber (left), North America CEO Jonathan Martin and 60 Charlton Street (AEW, APF Properties)
AEW purchases boutique Soho office building for $86.2M
AEW purchases boutique Soho office building for $86.2M
CBRE's Emma Giamartino and Bob Sulentic (CBRE, iStock)
Flush with cash, CBRE is ready to spend
Flush with cash, CBRE is ready to spend
GCP CEO Alan Yang (Getty, GCP)
GLP raises $2.3B for logistics property fund
GLP raises $2.3B for logistics property fund
Alphabet CEO Sundar Pichai and Twitter CEO Jack Dorsey (Getty)
Twitter, Google latest big companies to delay office returns
Twitter, Google latest big companies to delay office returns
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...