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2022 - Ferrovial reaches financial close as part of consortium developing New Terminal One at JFK

Updated: Sep 27, 2023


Ferrovial Airports reached financial close of its investment as an equity sponsor in the concessionaire of the New Terminal One (NTO), of New York’s John F. Kennedy Airport.


Ferrovial subscribed 96% of the Carlyle Global Infrastructure Opportunities Fund’s 51% stake in the concessionaire of the New Terminal One, becoming the consortium’s lead sponsor.


Project details include:

  • 38 year concession to build, operate and maintain New Terminal One

  • Annual capacity of 23 million passengers

  • 223,000 m2 state of the art facility with 14 gates planned to open by 2026 with a further 9 gates and terminal expansion in two subsequent phases.

  • Total investment of $9+ billion.

Altitude supported Ferrovial in the bid and subsequent due diligence process with Carlyle with our scope including:

  • Detailed traffic forecasts of the New York airport system, JFK and specific traffic segments targeted by the New Terminal One.

  • Aeronautical revenue forecasts including analysis of airline agreements and terminal charges benchmarking to support the business case development.

For more details please see:


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