American Airlines signs new lease at DFW Airport with plans for new terminal
Fort Worth-based American Airlines has signed on for another 10 years at Dallas Fort Worth International Airport (DFW). According to a release, the airline and the airport have signed a new 10-year Use and Lease Agreement, which includes $4.8 billion in pre-approved capital investments.
The Use and Lease Agreement is the main governing document between the airlines and the airport and establishes the Airport’s business model. The new Use and Lease Agreement replaces the 2010 agreement and maintains many of the same arrangements as the prior version.
Capital investments include:
- the construction of Terminal F
- the renovation of Terminal C
- construction of gate expansions at Terminal A and Terminal C
- other modernization projects
The lease signing, which marks a new era of growth and innovation, was overseen by a gathering of and comments from the key personages: Fort Worth Mayor Mattie Parker, Dallas Mayor Eric L. Johnson, American Airlines CEO Robert Isom, and DFW Airport CEO Sean Donohue.
"American is proud to call North Texas home, and DFW is our largest hub and a central gateway to our extensive international and domestic network," Isom said in a statement. "American has led the growth that has propelled DFW to become the second busiest airport in the world and we are thrilled to finalize a new lease agreement and capital plan that sets the stage for American, DFW, and the North Texas region to continue to grow for years to come."
"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," Donohue said.
The Use and Lease Agreement outlines major capital projects over the next 10 years. The most significant projects include:
Terminal C. An estimated $2.72 billion for the expansion of the Central Terminal Area, including a major reimagining of Terminal C, gate expansions extending from Terminal A and Terminal C, and significant upgrades to roadways and terminal access.
Terminal F. An estimated $1.63 billion for the construction of a new Terminal F, featuring a 15-gate concourse.
The terminal expansions will add 24 gates to prepare American and DFW for long-term growth. At the completion of construction, American will add new gates in the Terminal A and Terminal C piers to its operating portfolio.
The new agreement will allow American and DFW to work together on additional capital projects throughout the term of the lease.
Approximately 85 percent of passenger traffic at DFW is customers of American Airlines, with about two-thirds of American’s customers connecting through DFW to access the airline’s global network.
American’s creation of a “connection factory” provides access to more than 240 nonstop destinations out of DFW operated by American. DFW is also home to several of American’s alliance partners.
North Texas is home to nearly 35,000 American Airlines employees, at the airport and on American’s 300-acre Robert L. Crandall Campus in Fort Worth, where American recently opened its 600-room Skyview 6 Hospitality Complex, which hosts team members visiting for training.