Major additions are coming to both LaGuardia Airport (America's nicest place to catch a flight) and JFK Airport.
The LaGuardia improvements, a long-awaited $4 billion overhaul done by Delta and the Port Authority that will make the airport a single connected terminal instead of four separate buildings, was given the final go-ahead by the Port Authority yesterday.
According to the Daily News, the 37-gate terminal will get $3.4 billion in funding from Delta and $600 million in funding from the Port Authority. However, Delta already lost an investment partner in the project — according to the Commercial Observer, a Goldman Sachs-managed investment fund withdrew $300 million in equity financing and almost $4 billion in debt to cover Delta's construction costs. Whoops!
Meanwhile at JFK, New York's slightly more tolerated airport, JetBlue announced that they're going to expand their Terminal 5 building with a new building right next to their existing terminal. The airline is in the early stages of collecting ideas for the new buildingaccording to Crain's, but is already shooting for a 2020 opening.
In addition to expanding to the land that once housed JFK's Terminal 6, the JetBlue's CFO also told Crain's that the company could also potentially snatch Terminal 7 from British Airways when the airline's lease is up with the Port Authority. If JetBlue also acquired that land, they would effectively double their 800,000 square foot holdings at JFK that they already have with Terminal 5.
Amid all this airport construction, It seems prudent to note that without aggressive action on greenhouse gas emissions, New York City's coast, especially the land that JFK sits on, could be subject to Sandy-level flooding twice a month by 2100.