JetBlue in partnership with JFK Millennium Partners (JMP), recently announced a new investment partner— infrastructure investor American Triple I Partners, a 100% minority-owned and managed business enterprise.
JetBlue and JMP selected American Triple I Partners (ATI) as a 30%equity investor in the project. Based in New York, ATI is a developer and manager of infrastructure assets with decades of experience in project development and finance.
This new partnership is an important early step toward achieving New York Governor Andrew Cuomo’s 30% MWBE participation goal at all phases of the multi-billion dollar transformation of JFK Airport.
JetBlue is working with JMP, a private consortium comprised of Vantage Airport Group - an industry-leading airport investor, developer and manager known for leadership roles at more than 30 airports in its 25-year history (including the new Terminal B at LaGuardia Airport), and RXR Realty - an industry leader in developing multi-billion dollar projects across the New York region. The consortium offers significant experience in fostering growth and talent through MWBE outreach and compliance.
Lisa Reifer, vice president infrastructure, properties and development, JetBlue, commented: “With their vast investment and leadership experience and commitment to community partnership, we are proud to welcome American Triple I Partners to the team.
“ATI’s participation strengthens and diversifies the JetBlue/JMP Partnership to the benefit of this world-class terminal project.”
With the new partnership in place, American Triple I will focus its efforts on investing and managing funds for the project from traditional institutional investors and minority and female investors, as well as helping lead the project’s community engagement initiatives.
American Triple I CEO David J. Cibrian, said: “The modernisation of JFK Airport is transformational for New York City, providing an opportunity to reimagine one of the most important gateways in the world.
“As partners in the redevelopment of JFK Terminals 6 and 7, American Triple I looks forward to bringing real value to the project through our experienced team of infrastructure development and fund management professionals.”
The multi-billion dollar plan to transform JFK into a unified, world-class gateway will continue to offer compelling opportunities for MWBE involvement in all elements and stages of the project, from investment to construction, concession and operations contracts, offering local employment and community involvement opportunities.