Delta Air Lines has engaged AvAirPros to assist with the business and technical development of a $1.6B international hub expansion at JFK International Airport. Delta Air Lines intends to redevelop its existing Terminal 2 and 3 facilities at JFK and sublease a portion of Terminal 4 from the IAT. Terminal 4 is being developed and managed by the IAT, a private corporation consisting of LCOR Incorporated, Schiphol USA, and Lehman Bros.

AvAirPros has assisted Delta successfully negotiate a cost plus business deal under which the IAT will expand its headhouse, which is under construction and scheduled to open in May 2001, and Terminal 4 West Concourse from 10 gates to 26 gates. Delta will enter into a long-term sublease with the IAT for 26 West Concourse international gates, which the IAT would manage and operate on behalf of Delta. Delta will develop a facility connecting its Terminal 4 facilities with its Terminal 2 and 3 facilities.

During business negotiations, AvAirPros developed leasing alternatives, financial cost and revenue proformas, profitability analysis, site utilization analysis, programmatic requirements, and various financial analyses and projections necessary to achieve Delta's Board of Directors approval of the program. Further, AvAirPros provided high-level internal Delta coordinating among Delta's departmental stakeholders. AvAirPros technical staff was responsible for certain aspects of the terminal development including management of airline user interfaces and requirements, concession requirements, space planning, and determination of operational needs.

As business advisor to Delta, AvAirPros is assisting closely in the lease negotiations with the Port Authority of New York and New Jersey and the City of New York. AvAirPros is also assisting with the development and coordination of subleases, financing documents, non-disturbance agreements, consents, and other documents necessary for financial closing.

For additional information, please contact Kevin E. Corrigan at k.corrigan@avairpros.com
Based in Atlanta office

Updated: Wed Aug 10 11:46:56 2005

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