O’Melveny Worldwide

The Bond Buyer: JFK’s Latest P3 Terminal Deal Marks ‘Final Piece’ of Airport Transformation

November 18, 2022


Construction on a new Terminal 6 at John F. Kennedy International Airport will begin next year after financing and federal environmental approvals were secured this week. JFK Millennium Partners, which includes American Triple I, Vantage Airport Group, RXR, and JetBlue, raised a total of US$4.2 billion to fund the project. The demolition of Terminal 7 and a connection to JetBlue’s Terminal 5 are a part of the project, which is the “final piece” of a US$18 billion redevelopment plan at JFK that is expected to be complete by 2028. An ‘'Melveny team led by partners Eric Richards, Denise Raytis, M. Elizabeth Dubeck, and John Rousakis advised JFK Millennium Partners on the deal.

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