JAMAICA, N.Y. — JFK International Air Terminal LLC (JFK IAT) has completed construction of the new 1.5 million sq. ft. terminal at JFK International Airport. The $1.4 billion facility is the largest terminal at JFK, and it replaces the old International Arrivals Building that was built in 1957. Terminal 4 also marks the first time that a United States airport terminal has been financed, developed and constructed by non-airline private companies. JFK IAT is a private company that consists of Schiphol USA, LCOR Inc. and Lehman Brothers. JFK IAT was chosen to manage the old terminal while developing and constructing Terminal 4. The new terminal is the cornerstone of a $9 billion expansion and redevelopment program at JFK.

Terminal 4 features 10 gates, 20 U.S. Customs positions, seven baggage carousels and a 100,000 sq. ft. retail concourse with mini-parks and other relaxation areas. The terminal has been designed to handle 3,200 arriving passengers per hour, as opposed to the smaller 2,000 capacity of the older building. The terminal will eventually expand to 16 gates after demolition of the old building is completed next year. Delta Airlines is planning a $1.6 billion project to double the original terminal size, which is expected to be completed in 2005.