JFK Airport Terminal Consortium Proceeds; Ferrovial Is Lead Investor [MarketWatch]
FERROVIAL S A UNSP/ADR (FRRVY)
NASDAQ:AMEX Investor Relations:
ferrovial.com/en/ir-shareholders
Company Research
Source: MarketWatch
Kennedy International Airport completed the development phase and provided Notice to Proceed on construction. The New Terminal One at JFK team reached financial closure on the $9.5 billion, 2.4 million-square foot terminal. Ferrovial became lead financial sponsor with a $1.14 billion deal announced Monday. A $13 billion plan to improve the airport was announced in October 2018. It was delayed by issues including lower passenger traffic during the pandemic and concerns that a lease expiration in 2050 didn't provide enough time for private-sector participants to complete projects and recover costs. In February 2021, New York City extended the lease with the airport's operator, the Port Authority of New York and New Jersey, to 2060. S&P said Friday that it believes Ferrovial's JFK investment "aligns with the company's Horizon 24 strategy," and said it is adding "high-quality capacity at an airport where there is strong demand and scarce supply." The consortium previously sele
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