Schiphol buys terminal at JFK airport
Thursday 12 August 2010
Amsterdam Schiphol Airport has taken full ownership of Terminal 4 at JFK in New York. It is the first time a foreign company has had control of a terminal in the US.
The airport already owned 40% of the shares and has now bought the remaining 60% for €10.1 mln. The agreement includes a provision that any future financial set-backs will have no effect on the Schiphol Group.
New York and New Jersey Port Authority financed the construction of the terminal in the 1990s and will finance the current expansion by issuing fiscally attractive shares, reports NRC. The cost of the expansion is about €935 mln.
© DutchNews.nl
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Thursday: Cold with sunny spells and light snow possible. Heavy frost at night. More sun Friday
I'm not sure the first time ownership statement is accurate. A few years ago, BAA owned several airports in the USA; the Pittsburgh airport being one of them.
By Ex_amsterdamer | August 12, 2010 5:56 PM