American Airlines and the Dallas Fort Worth International Airport (DFW) announced Tuesday they had signed a 10-year Use and Lease agreement that includes terminal construction and renovation.
The agreement covers $4.8 billion in pre-approval capital investments including the construction of Terminal F, the renovation of Terminal C and other modernization projects. The agreement, signed during a ceremony featuring Dallas Mayor Eric L. Johnson, Fort Worth Mayor Mattie Parker, DFW CEO Sean Donohue and American Airlines CEO Robert Isom, signifies an era of growth and innovation, officials said.
“We are very proud that Fort Worth-based American Airlines has signed this important agreement to cement DFW’s status as American’s main hub and help us continue to meet the incredible demand we are experiencing in North Texas,” Mayor Parker said. “Our region will become the nation’s third-largest metro region within the next 10 years, and it’s no surprise that we have the second-busiest airport in the world. Today’s agreement ensures DFW Airport is ready for the future and to continue serving as Fort Worth’s gateway to the world.”
The world’s second busiest airport, DFW will see major capital projects over the next 10 years, including an expansion of the Central Terminal Area with a major reimagining of Terminal C, “pier” expansions off Terminal A and Terminal C and a significant upgrade to roadways and terminal accesses, as well as a new Terminal F featuring a 15-gate concourse, state-of-the-art facilities and amenities, modernized baggage handling, expanded concessions and additional passenger gates.
The terminal expansions will create 24 additional gates that will allow American and other airlines to grow, officials said. Once construction is finished, American will add new gates in Terminals A and C to its operating portfolio. The new use and lease agreement also allows American and DFW to work together on other capital projects throughout the term of the lease.
“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 Sean Donohue, CEO of DFW. “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 prioritizes innovation, customer experience and sustainability.”