Construction of JFK Terminal 6 to go ahead following restructured finance deal

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The Port Authority of New York and New Jersey (PANYNJ) has agreed a restructured deal with JFK Millennium Partners (JMP) to build the new US$3.9bn Terminal 6 facility at John F Kennedy International Airport.

The project was initially supposed to break ground in 2020 but had to be suspended following the impact of the Covid-19 pandemic.

Once finalized, PANYNJ will enter into a lease agreement with JMP for the construction of the 1,200,000ft2 new terminal, with the full US$3.9bn expense of the building being financed by the JMP consortium, which includes Terminal 5 operator JetBlue Airways.

It will be built on the sites of the former Terminal 6, which was demolished in 2011, and the aging Terminal 7, which will be torn down after British Airways relocates to Terminal 8.

New York governor Andrew Cuomo said, “The transformation of JFK Airport into a world-class gateway is another distinct testament to New York’s comeback and to our determination to build back better. This historic private investment will not only fortify New York’s reputation as our nation’s front door to the world, but also sets an example for how this country can tackle bold infrastructure projects that will jumpstart our economy with thousands of good-paying jobs even amid profound challenges like the pandemic.”

The new terminal will connect to Terminal 5 and be equipped with capacity for 10 new gates, as well as bright and airy check-in halls and arrival spaces designed to enhance the customer experience. Customers will enjoy more than 100,000ft2  of commercial dining and retail amenities, lounges and recreational spaces. The new terminal will also incorporate the latest advances in both sustainability and security.

Construction of the new terminal is scheduled to begin in mid-2022 and the first new gates are scheduled to open in 2025.

In October 2018, PANYNJ began exclusive negotiations for the development of two major new international terminals, one each on the airport’s north and south sides, that would increase the airport’s capacity by at least 15 million passengers.

Plans were sidelined as passenger volumes at JFK declined by as much as 98% during the height of the pandemic in 2020 and have only recently increased to levels that still remain 25-30% down from pre-pandemic figures.

Rick Cotton, executive director at PANYNJ, said, “At the height of the pandemic, when JFK Airport was seeing an unthinkable 2% of its pre-Covid record-breaking passenger volumes, we never lost sight of finding a path forward for this world-class terminal under governor Cuomo’s leadership. We thank our dedicated team, our partners and the City of New York for the extraordinary effort to revive this deal and turn JFK Airport into the modern global gateway that New Yorkers deserve.”

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Dan originally joined Passenger Terminal World in 2014 having spent the early years of his career in the recruitment industry. As online editor, he now produces daily content for the website and supports the editor with the publication of each exciting new issue. When he’s not reporting on the latest aviation news, Dan can be found on the golf course or apprehensively planning his next DIY project.

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