The Wall Street Journal
By Paul Berger
Updated February 6, 2019 2:04 p.m. ET
John F. Kennedy International Airport’s Terminal 8 will undergo a $344 million overhaul as part of a $13 billion redevelopment of New York City’s main international gateway.
The plans, announced Wednesday, solve a piece of a complex puzzle in which the Port Authority of New York and New Jersey, which runs the airport, seeks to redevelop the busy hub while keeping it in operation.
The airport served a record 61 million passengers in 2018, up 2.5% from the previous year, according to the Port Authority.
“Today, we are seeing the JFK transformation project is well under way, with an extraordinary private investment that will turn JFK into a truly modern airport,” said New York Gov Andrew Cuomo.
The overall airport modernization was unveiled last fall by Port Authority Executive Director Rick Cotton. The vision for the new airport includes new taxiways and roadways as well as additional gates and vast, new light-filled terminals.
Although the Port Authority runs the airport, its six terminals are each managed by separate airlines or terminal operators.
The redevelopment plans envisage $12 billion of private investment matched by $1 billion in Port Authority funds.
The Terminal 8 project will be paid for by American Airlines with British Airways serving as a tenant airline, a Port Authority spokesman said.
The terminal is owned by American Airlines Group Inc. Co-locating the two airlines will allow British Airways, part of International Consolidated Airlines Group SA, to move from its current home in Terminal 7 into Terminal 8 in 2022.
That will free up space for JetBlue Airways Corp. to redevelop the current Terminal 7 site for its own $3 billion expansion plans. JetBlue, which currently operates out of Terminal 5, will almost triple its footprint at JFK, by expanding on the site of the former Terminal 6 and across the current Terminal 7.
The Port Authority said that the Terminal 8 deal is subject to an agreement between American Airlines and the agency, which should be concluded in the coming weeks pending approval by the Port Authority board.
The new Terminal 8 will add 70,000 square feet to the current 1.5 million square foot terminal, according to the Port Authority. It will have five wide-body gates to allow for more trans-Atlantic flights, offering 14 daily flights to London.
The plan also calls for modernizing concession areas, baggage systems, lounges and premium check-in areas.
https://www.wsj.com
No comments:
Post a Comment