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Ferrovial acquires 49% of the JFK Airport concessionaire

The Spanish company Ferrovial has just acquired a 49% stake in New Terminal One, the consortium in charge of designing, building, and operating the New Terminal 1 at New York's JFK International Airport (which includes terminals 1 and 2, and the old T3 of said airport and possible extensions).

Ferrovial will acquire 96% of the 51% owned by The Carlyle Global Infrastructure Fund in New Terminal One.

However, the closing of the operation is subject to certain conditions precedent, including the approval of the different port authorities of New York and New Jersey. This investment will be close to 1,060 million euros.

The project of the New Terminal 1 that will be executed in phases, and whose investment is estimated at 9,500 million dollars. The new terminal building will be located in the space currently occupied by terminals T1, T2 and the old T3, offering a better user experience throughout the more than 232,000 square meters that this new infrastructure will have.

This remodeling process also includes the demolition of the old terminals and the modernization of the infrastructures with the aim of increasing the capacity of what will be the largest terminal at JFK International Airport. The first phase of the work is expected to end in 2026, with the concession running until 2060.

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