Airlines to fund new terminals at JFK
New York JFK Airport has unveiled details of its proposed multi-billion-dollar update, which will create a world-class air hub for the city.
Plans for the $13 billion project to build two new terminals were outlined by New York governor Andrew Cuomo, who said the city must ‘spend big’ to update its transportation infrastructure to stay competitive.
He said: "JFK has been outdated all of my life. Either you are building and you are creating, or you are getting left behind, that is the simple reality of life," he said.
All but $1 billion will be funded by the private sector.
A new $7 billion terminal will be funded jointly by four international airlines: Lufthansa, Air France, Korean Air Lines and Japan Airlines.
A second $3 billion terminal will be built and financed by JetBlue.
The terminals will be interconnected and more than $1 billion in public money will go toward updating access roads and expanding the AirTrain rail service from Queens.
Work is expected to begin in 2020 with a tentative completion date of 2025.
It will increase passenger capacity to 75 million by 2030 and up to 100 million by 2050.
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