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TheStreet Open House

United Airlines Extends Newark Agreement, Commits $150M In Further Investment At Region's Largest Hub

Stocks in this article: UAL

NEWARK, N.J., April 8, 2013 /PRNewswire/ -- United Airlines and the Port Authority of New York & New Jersey have signed a 20-year lease extension through which United will maintain its significant presence at Newark Liberty International Airport and make further investments to ensure the airport remains one of the country's premier global gateways.

United and the United Express carriers will continue their exclusive use of Terminal C and will continue to operate flights at Terminals A and B. Additionally, the airline will invest $150 million in ongoing improvements throughout the term of the lease. While Terminal C is already one of the nation's most modern international terminals, United will further develop its concourse areas and improve baggage handling.

"As the largest airline in New Jersey and New York and one of Newark's largest employers, United is committed to Newark Liberty as a model of customer service, convenience and efficiency," said Jeff Smisek, United chairman, president and chief executive officer. "Our partnership with the Port Authority and the investments United will make will ensure Liberty's place as the region's leading domestic and international airport for decades to come."

United is the New York area's largest airline, with more flights and more seats from the region to more destinations around the world than any other airline. The airline also offers New York-area travelers more flat beds in premium cabins and more extra-legroom economy seats than any other airline.

From Newark Liberty, United offers more than 400 flights daily to more than 150 destinations in North and South America, Europe, the Middle East and Asia. Its location and rail links make Newark Liberty the most convenient major airport for travelers originating in north and central New Jersey, parts of New York City and southern New York State. With more than 13,000 Newark-based employees, United connects the region to more of the world than any other airline.

"United Airlines is a critical partner to New Jersey and the Port Authority,'' said N.J. Gov. Chris Christie. "This long-term commitment that United is showing to Newark will help us create jobs and continue our economic comeback."

"Thanks to the Port Authority's strong partnership with United, Newark Liberty has become not only a world-class airport but also an important driver of economic growth, jobs and development for the entire region," said Port Authority Chairman David Samson. "The continued investment in Newark Liberty's facilities will ensure that the airport, and Terminal C specifically, remains a modern, premier gateway for travelers."

"United Airlines is a leading anchor not just for Newark Liberty Airport, but for the economic growth of New Jersey," said Port Authority Deputy Executive Director Bill Baroni. "Our partnership with United Airlines is a model for the entire Airport community. United is a company with great corporate values and a real commitment to the people of New Jersey and New York."

"The City of Newark is enjoying an incredible revitalization, and the support of our partners at United is critical to the growth of our great city," said Newark Mayor Cory Booker. "We have ambitious plans, as Newark is a model of urban development and renewal, and the commitment of United and its employees is an integral part of bringing that development to fruition."

"United's long-time presence and investments at Newark Liberty International Airport have had a significant and positive impact on economic growth within the City of Elizabeth and in the region," said Elizabeth, N.J., Mayor Chris Bollwage. "We are committed to enabling further growth in the decades to come."

United Investments at Newark Hub

Since 1981, United and its predecessor carriers with Newark hubs – Continental and People Express – have built on a commitment nearly three decades old to expand and modernize Newark Liberty and establish a hub operation that would attract passenger revenue and economic growth to the region. That commitment was the first of any major airline at the New York-area airports.

In 1985, People Express joined with the Port Authority to complete the construction of Terminal C, a project which Continental acquired following its 1987 merger with People Express.

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