JFK Airport Terminal 6 builder/manager says $4.3 billion project could withstand economic turbulence after it navigated the COVID-19 travel lockdown
Although the current holiday travel season marks the busiest since 2019, the lessons from the COVID-19 travel slowdown remain fresh to developers of the new JFK Airport’s $4.3 billion Terminal 6 Project.
Corsair is the only example of a developer combined with an equity provider in major infrastructure projects such as LaGuardia Terminal B and JFK Terminal 6, the firm said. As sponsor of the $5 billion LaGuardia Airport Terminal B Project completed earlier this year, Rajan said Corsair Capital’s approach helped it manage through the unexpected travel lockdown in 2020 when air traffic suddenly nearly vanished.
Because aeronautical revenue is not dependent on how full the planes are, it creates some stability in the revenue stream even when you have big hits on the food, beverage and retail side from lower foot traffic, Rajan said.
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