American Airlines and Dallas Fort Worth International Airport (DFW) have signed a new 10-year use and lease agreement, which includes $4.8 billion in pre-approved capital investments, including the construction of Terminal F, the renovation of Terminal C, construction of gate expansions at Terminal A and Terminal C, and other significant modernisation projects.
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DFW CEO Sean Donohue, Dallas Mayor Eric L. Johnson, Fort Worth Mayor Mattie Parker and American Airlines CEO Robert Isom pictured (L-R) at the special event at DFW.[/caption]
“American is proud to call North Texas home, and DFW is our largest hub and a central gateway to our extensive international and domestic network,” said American’s CEO Robert Isom. “American has led the growth that has propelled DFW to become the second busiest airport in the world and we are thrilled to finalise a new lease agreement and capital plan that sets the stage for American, DFW and the North Texas region to continue to grow for years to come. We value our longstanding relationship with DFW and are grateful to Mayor Parker, Mayor Johnson, the DFW Airport Board and Sean for their continued partnership.”
The Use and Lease Agreement is the main governing document between the airlines and the airport and establishes the airport’s business model. The agreement outlines major capital projects over the next 10 years. The most significant projects include: an estimated $2.72 billion for the expansion of the Central Terminal Area, including a major reimagining of Terminal C, gate expansions extending from Terminal A and Terminal C, and significant upgrades to roadways and terminal access; and an estimated $1.63 billion for the construction of a new Terminal F, featuring a 15-gate.
"The Use and Lease Agreement not only creates a predictable and equitable business model for DFW Airport, but it also underscores the commitment of the airport and our airline partners to provide passengers with the best possible travel experience," said DFW Airport CEO Sean Donohue. "Our partnership with American Airlines, our largest airline, is stronger than ever. With the support of Robert Isom and the American team, we are making investments that set the stage for the airport of the future — one that priorities innovation, customer experience and sustainability.”
The terminal expansions will deliver 24 additional gates to prepare American and DFW for long-term growth. At the completion of construction, American will add new gates in the Terminal A and Terminal C piers to its operating portfolio.
The new use and lease agreement replaces the 2010 agreement and maintains many of the same business arrangements as the prior version, which will provide certainty and cost predictability to support the continued growth of American and DFW.
Approximately 85% of the passenger traffic at DFW is customers of American Airlines, with about two-thirds of American’s customers connecting through DFW to access the airline’s global network.