USA. Ferrovial has agreed to acquire a stake in New Terminal One, the consortium appointed to design, build and operate a new US$9.5 billion terminal at New York John F. Kennedy International Airport.
Under the deal, the Spanish multinational transport infrastructure company is acquiring 96% of The Carlyle Global Infrastructure Fund’s 51% stake in New Terminal One. The investment amounts to US$1.14 billion.
The transaction’s completion is subject to certain conditions, including Port Authority of New York and New Jersey Board approval.
The new Terminal 1 will stand on the site currently occupied by T1, T2 and the former T3 of JFK Airport. It will offer an enhanced user experience over more than 2.5 million square feet.
The process includes demolishing the old terminals and modernising the infrastructure. Upon completion, it will be the largest terminal at the airport.
Construction will proceed in phases, with the first phase expected to be completed in 2026. The asset concession runs until 2060.
Ferrovial has more than 20 years of experience investing in, developing and operating 33 airports around the world, including in the US, Australia and Chile.
It currently has interests in four airports in the UK. This includes a 25% stake in Heathrow, making it the airport’s core shareholder and industrial partner.
The company also owns 50% of Glasgow, Aberdeen and Southampton airports and said it is in the process of closing the acquisition of 60% of Dalaman International Airport in Turkey from YDA Group.
