JetBlue Eyeing Two-Terminal Expansion at JFK Airport
JetBlue (JBLU) - Get Report announced Friday a request to build a new terminal and proposed a possible takeover of another terminal at New York's JFK Airport.
JetBlue, which calls itself New York's Hometown Airline, wants to build the new terminal on a vacant blacktop where the former Terminal 6 stood, close to its 29-gate Terminal 5 hub. Plans for the terminal aim to complete construction by 2020, according to a company statement. JetBlue is currently seeking investment partners and development concepts.
JetBlue said the company will also consider an additional expansion, taking over and redeveloping Terminal 7. Terminal 7 is currently occupied by British Airways and its lease for the space expires in 2022. Construction for that portion would aim to finish by 2025.
The phased development for Terminal 6 and possible acquisition of Terminal 7 are subject to approval from the Port Authority of New York and New Jersey.
JetBlue stock traded up mid-afternoon.
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