Ferrovial buys 49% of the new JFK Airport in New York from Carlyle for almost 1,000 million euros |  Economy



Ferrovial has agreed to acquire 49% of New Terminal One, the consortium appointed to design, build and operate New Terminal 1 at John F. Kennedy International Airport (JFK) in New York (which includes terminals 1 and 2, and the old T3 of said airport and possible extensions). Within the framework of this operation, the Spanish company will acquire 96% of the 51% that The Carlyle Global Infrastructure Fund owns in New Terminal One, for 1,060 million dollars (986 million euros at current exchange rates), which gives it 49% of the total project.

The closing of the operation is subject to certain conditions precedent, including the approval of the port authorities of New York and New Jersey. The consortium developing the project is also made up of JLC Infrastructure, from Earvin magic Johnson and Ullico, with 30% and 19%, respectively, and an airline consortium.

With an investment of 9,500 million dollars (8,835 million euros), the New Terminal 1 project will be located in the space currently occupied by T1 and T2 and the old T3, offering a better user experience throughout the more than 232,000 square meters that this new infrastructure will have. The remodeling process, which includes the demolition of the old terminals and the modernization of the infrastructure, will increase the capacity of the terminal. Once the work is finished, it will become the largest terminal at JFK International Airport. The construction of the project will be carried out in phases, the first phase is expected to be completed in 2026.

The airport concession is scheduled to run until 2060. The new terminal 1 will have 23 gates, which will gradually open from 2026 to 2030. It is not the only major project at JFK: terminals 4 are currently being expanded or about to be , 5, 6 and 8 (which will be built on the current terminal 7).

One of the largest in the world

JFK airport is considered one of the economic engines of the New York region: it employs 300,000 people, pays 16.2 billion dollars a year in salaries and generates 45.7 billion dollars a year in sales. Before the pandemic, it reached a record number of 62.6 million passengers in 2019.

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With this acquisition, Ferrovial fulfills its dream of landing in the airport operation business in the United States. After an unsuccessful attempt to win the JFK Airport concession, he bid for the Westchester County Airport in the State of New York and participated in the process of privatizing the San Luis-Lambert International Airport in the city of San Luis, in the State of Missouri, although it was suspended. Its activity in the country had been limited to its participation in the remodeling and improvement process of the main terminal of the Denver International Airport, through its construction division, although the contract was rescinded

It currently has four airports in the UK. With a 25% stake, it is the largest shareholder and industrial partner of London Heathrow Airport and holds a 50% stake in Glasgow, Aberdeen and Southampton airports. Likewise, the acquisition of 60% of Dalaman International Airport in Turkey from YDA Group is in process.

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