DFW Airport terminal renovation grows to $2.7B

IRVING – Dallas-Fort Worth International Airport has boosted its terminal renovation project budget by $650 million to $2.7 billion. The airport has added a longer construction schedule, more asbestos abatement and the re-addition of gates to Terminal C to the project’s agenda.

The airport added a new parking garage to Terminal A as part of the project and American Airlines has asked that gates in Terminal C that were going to be demolished as part of the original project be renovated.

As a result of the budget increase, the airport will be issuing an additional $450 million in bonds. The airport currently has about $6 billion in debt from the construction of Terminal D, its Skylink train and the renovations of Terminal A, B and E.

The bonds will be paid for by an increase in fees and terminal rents on the airport’s airline tenants. American Airlines’ board has already approved the new $2.7 billion budget.