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Infrastructure - AUGUST 13, 2021

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Consortium approved to build $3.9b new terminal at JFK International Airport

by Released

The Port Authority of New York and New Jersey has approved a public private-partnership (P3) agreement with JFK Millennium Partners — including JetBlue Airways -— to build a new $3.9 billion state-of-the-art Terminal 6 at JFK International Airport.

The new terminal, which will connect to JetBlue’s Terminal 5, will create an anchor on the north side of the airport. Originally set to break ground in 2020, the project was threatened by the impact of the COVID-19 pandemic on air travel and the uncertain future of the industry. The restructured deal approved today marks a significant step forward in the plan to transform JFK into a unified 21st century global gateway.

The entire $3.9 billion cost to build the new terminal will be privately financed by JMP. This private investment is a testament to the partners’ commitment to the future of JFK and New York.

The board resolution passed today both approves the terms of the agreement with the private consortium t

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