New $4.2 Billion International Terminal Coming to JFK Airport

Airport development and operating company Vantage Airport Group (Vantage) and Corsair Infrastructure, the global infrastructure investment business of Corsair Capital (Corsair) and Vantage's shareholder, have closed on a $4.2 billion deal to develop a new international Terminal 6 at John F. Kennedy International Airport (JFK) in New York. Vantage will be the principal developer and operator of the new terminal, with Corsair serving as the project’s principal financial sponsor.

Vantage will lead the construction of the new JFK Terminal 6 in two phases, managing both the existing Terminal 7 until its demolition in 2025, and the new international Terminal 6 from completion through 2060 via a long-term lease with the Port Authority of New York and New Jersey. Once completed, the new Terminal 6—scheduled to be delivered in 2028—will connect international and domestic flights from Terminal 5. In all, the 1.2 million-square-foot terminal will capacity for 10 gates, more than 100,000 square feet of commercial amenities and airline lounges. Custom artworks and the latest advances in technology, security and sustainability will also figure prominently in the new terminal complex.

JFK Terminal 6 is Vantage and Corsair’s second airport terminal development project in the New York market. One of the largest public-private partnerships in American aviation history, the new $5.1 billion LaGuardia Terminal B reached completion on time and within budget in July 2022.

Already, LaGuardia Terminal B has been the recipient of multiple awards and recognition for its financing, sustainability, management, design, construction and guest experience.

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