PORT AUTHORITY BOARD OF COMMISSIONERS APPROVES NEW POST-COVID DEAL FOR A BRAND NEW $3.9 BILLION TERM

The Board of Commissioners of the Port Authority of New York and New Jersey today approved a public private-partnership agreement with JFK Millennium Partners - including JetBlue Airways -- to build a new $3.9 billion state-of-the-art Terminal 6 at JFK International Airport. The new terminal, which will connect to JetBlue's Terminal 5, will create an anchor on the north side of the airport. Originally set to break ground in 2020, the project was threatened by the impact of the COVID-19 pandemic on air travel and the uncertain future of the industry. The restructured deal approved today marks a significant step forward in the plan to transform JFK into a unified 21 century global gateway. All of the $3.9 billion cost to build the new terminal will be privately financed by JMP. This private investment is a testament to the partners' commitment to the future of JFK and New York.