New public/private terminal opens at JFK

A new 1.5 million square foot terminal has been opened at JFK International Airport, New York. The terminal, which opened officially May 28, is one of the largest public and private projects in the US, and the first time that a US air terminal has been developed by a non US airport operator, reports Schednet.com.

Investment in the terminal, part of a larger extension plan for the airport, was US$1.4 billion with the project financed by bond issues from the Port Authority. Terminal 4 is JFK’s most important terminal with 40 mainly internationally operating airlines including KLM and partner NorthWest, making use of this new facility.

The new Terminal 4 was built by JFK International Air Terminal LLC (JFK IAT), a private consortium in which Schiphol USA, subsidiary of Schiphol Group, holds a 40 per cent share, and by LCOR Inc, a national real estate developer, also holding a 40 per cent share. Lehman Brothers Inc holds the remaining 20 per cent share. JFK IAT will manage the new Terminal 4 until at least 2015.