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
Lewis Road Residential Planned Development (Pine Barrens, iStock)
Big golf, resi project in East Quogue approved
Big golf, resi project in East Quogue approved
Freshly CEO Michael Wystrach and 28 East 28th Street (Photos via Twitter; Google Maps)
Freshly inks big lease in NoMad
Freshly inks big lease in NoMad
From left: BSA chairwoman Margery Perlmutter, DRAW Brooklyn founder Alexandros Washburn, New York City Council Member Carlos Menchaca with renderings of the project (Photos via the City of New York, LinkedIn and Arquitectonica)
How a Red Hook developer circumvented the City Council
How a Red Hook developer circumvented the City Council
From left: Isaac Zion with JMC Holdings' Matthew Cassin (left) and David Taylor (right) (Photos via SL Green; JMC)
Former SL Green exec Isaac Zion joins Acram Group
Former SL Green exec Isaac Zion joins Acram Group
(Photo illustration by The Real Deal)
Inside mall owner Namdar’s rapid growth story
Inside mall owner Namdar’s rapid growth story
15 Park Row (Google Maps)
J&R Music founders sell Park Row apartment tower for $140M
J&R Music founders sell Park Row apartment tower for $140M
Claudio Del Vecchio has owned Brooks Brothers since 2001. (Getty)
Brooks Brothers’ Madison Ave store could give way to Midtown East tower
Brooks Brothers’ Madison Ave store could give way to Midtown East tower
Gov. Andrew Cuomo (Getty)
Industry reacts to Cuomo’s proposed commercial eviction ban
Industry reacts to Cuomo’s proposed commercial eviction ban
arrow_forward_ios

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

Loading...