The Port Authority of New York and New Jersey has reached a new agreement with a JetBlue-backed financial consortium to enable construction of a new international Terminal 6 at New York's Kennedy Airport. Construction is due to start in the middle of next year.
The estimated $3.9 billion terminal will have 10 gates as well as 100,000 square feet of restaurants, shops, lounges and recreational space. Completion is expected in 2025.
The Terminal 6 project, which will go before the port authority for formal approval this week, is to be privately financed and then operated by the JFK Millennial Partners Consortium, which includes JetBlue and Vantage Airport Group, among other parties. Vantage is also a partner in LaGuardia Gateway Partners, the private entity that has been redeveloping LaGuardia Airport for the past several years.
Terminal 6 will connect with JetBlue's Terminal 5 at JFK, and the carrier expects the facility to bring it new gate opportunities upon opening while also offering JetBlue partners, among them American Airlines, the ability to co-locate.
Groundbreaking for Terminal 6 had been scheduled for last year, but the Covid-19 pandemic led to the financing deal being restructured. As part of the arrangement, the port authority would contribute $130 million for enabling infrastructure work.
The Terminal 6 project is part of a broader JFK redevelopment plan laid out in 2018. In April, the port authority and Delta reached revised terms for the expansion of the airport's Terminal 4. The $1.5 billion project includes new gates critical for Delta's plan to consolidate its JFK operations in Terminal 4, as well as other elements related to the passenger experience.
That project was downsized from a previous $3.8 billion as a result of the pandemic.