IDA okays terminal funding.New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. Industrial Development Agency authorized financing assistance for two major terminal expansions at John F. Kennedy International Airport
John F. Kennedy International Airport (IATA: JFK, ICAO: KJFK, FAA LID: JFK . American Airlines American Airlines Major U.S. airline. American was created through a merger of several smaller U.S. airlines and incorporated in 1934. It continued to buy the routes of other airlines, becoming an international carrier in the 1970s; its routes include South America, the is building a new $1.1 billion terminal, while Terminal One Group Association, a consortium of four airlines, is modifying and expanding its current terminal. The IDA Ida (ē`dä), city (1990 pop. 91,859), Nagano prefecture, central Honshu, Japan, on the Tenryu River. It is an agricultural market and railway junction. board also approved financing assistance for two not-for-profit organizations and two industrial companies. Those projects are expected to create and retain about 160 jobs and spur more than $45 million in private investment. "If we want New York City to remain the business capital of the world and an important tourist destination A tourist destination is a city, town or other area the economy of which is dependent to a significant extent on the revenues accruing from tourism. It may contain one or more tourist attractions or visitor attractions and possibly some "tourist traps". , it is imperative that we foster investment in our transportation infrastructure, including our airports," said chairman Alper. "These terminal expansions will greatly enhance JFK Airport, the gateway to New York City, and I'm pleased IDA was able to help make them happen." The IDA Board authorized the sale of up to $700 million in tax-exempt bonds to help finance the new American Airlines terminal. IDA authorized an initial bond issuance of $500 million in July 2002. The first phase of construction was completed earlier this year and a portion of the terminal was open to the public. When the final phase of construction is completed in the spring of 2007, the terminal will cover 1.4 million s/f and provide 36 gates, serving as the primary location for the 8,500 American Airlines employees in the metropolitan area. All told, the project is expected to create about 500 construction jobs. The IDA board also authorized $417 million in tax-exempt bonds for Terminal One Group Association, an entity that includes Compagnie Nationale Air France Air France in full Compagnie Internationale Air France French passenger and cargo airline with more than 200 destinations in some 80 countries. It introduced supersonic Concorde service in 1976, but financial loss led the company to cease its Concorde , Japan Air Lines, Korean Air Lines and Deutsche |
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