DRAFT

FORT WORTH, Texas – American Airlines, in partnership with the Port Authority of New York and New Jersey and Unibail-Rodamco-Westfield (URW) Airports, today announced a $125 million commercial redevelopment program for Terminal 8 at John F. Kennedy International Airport (JFK). This announcement follows the recent completion of a $400 million expansion of Terminal 8 that will continue to enhance the customer experience at the world-renowned gateway.  

“We’re committed to ensuring a world-class experience at Terminal 8 and this commercial redevelopment will further elevate the travel journey for our customers and our oneworld partners,” said American’s CEO Robert Isom. “We look forward to working with our project partners, the Port Authority and the local community to deliver a transformative dining and shopping experience that represents the dynamic New York City region.” 

The commercial redevelopment will elevate and modernize the overall aesthetic of Terminal 8 and provide a complete redesign and expansion of the concessions program, including dining, retail, duty-free shopping, entertainment spaces and new digitally enabled experiences for customers. The NYC-inspired project will feature a new Great Hall and is expected to bring more than 60 new shopping and restaurant offerings.  

“This is another tremendous milestone in our extensive JFK Redevelopment Program,” said Port Authority Executive Director Rick Cotton. “We are excited for the continued transformation to bring customers new travel experiences, boost employment opportunities for our local communities, and provide a pathway for local and minority businesses to propel their business as a construction or concession partner.” 

American selected T8 Partners, a joint venture led by URW, to lead the redevelopment. URW is an owner, developer and operator of sustainable, high-quality real estate assets across Europe and the U.S. Also joining the T8 Partners team is Phoenix Infrastructure Group, a minority-owned, MWBE-certified investment firm focused on critical infrastructure projects; Servy, the enterprise self-service platform for hospitality operating in more than 80 airports worldwide; and Holt Construction, New York’s premier construction management firm with experience in more than 100 aviation projects at airports across the country.  

“It is an honor to partner with American Airlines and the Port Authority to help transform JFK and bring major benefits to New Yorkers and travelers from around the world,” said URW Airports CEO Dany Nasr. “We’re committed to ensuring Terminal 8’s concession program celebrates New York’s incredible diversity and represents the best of New York with a lineup that spotlights local, small and minority-owned businesses alongside global icons.”   

“We are thrilled that Phoenix is a part of this historic infrastructure project at the world-class gateway JFK,” said Phoenix Infrastructure Group CEO Jeremy Ebie. “The redevelopment of Terminal 8 will raise the bar in both delivering a next-generation customer experience and creating a new model for how to engage with local communities across all project phases.” 

Big opportunities for the Big Apple    

The connection to the Queens and New York City communities will be at the forefront of the redevelopment, from design and construction to operating opportunities for local businessowners. With the expansion of the concessions program, the project will double the current permanent concessions jobs at Terminal 8.  

To lower the barriers of entry into the airport industry for locally owned small businesses, T8 Partners will launch an incubator program for Queens and Locally Based Enterprises that will provide technical assistance and innovative leasing approaches with low risk. T8 Partners has also committed to exceeding its goals for 30% Minority and Women-Owned Business Enterprises (MWBE) and 50% Airport Concessions Disadvantaged Business Enterprise (ACDBE) participation in construction.  

With sustainability as another fundamental element to the development, T8 Partners has partnered with The Green Restaurant Association to deliver a food and beverage program with brands that value sustainable business practices and get 100% of all eligible tenants to become Certified Green Restaurants.  

To learn more about the project, visit anewjfk.com. To stay up to date about business and employment opportunities, visit thenewjfkt8.com. 

About American Airlines Group  To Care for People on Life’s Journey. Shares of American Airlines Group Inc. trade on Nasdaq under the ticker symbol AAL and the company’s stock is included in the S&P 500. Learn more about what's happening at American by visiting news.aa.com and connect with American on Twitter @AmericanAir and at Facebook.com/AmericanAirlines.

About Unibail-Rodamco-Westfield   

Unibail-Rodamco-Westfield is an owner, developer and operator of sustainable, high-quality real estate assets in the most dynamic cities in Europe and the United States.   

The Group operates 80 shopping centres in 12 countries, including 45 which carry the iconic Westfield brand. These centres attract over 800 million visits annually and provide a unique platform for retailers and brands to connect with consumers. URW also has a portfolio of high-quality offices, 10 convention and exhibition venues in Paris, and a €3 Bn development pipeline of mainly mixed-use assets. Currently, its €55 Bn portfolio is 87% in retail, 6% in offices, 5% in convention and exhibition venues, and 2% in services (as at June 30, 2022).   

URW is a committed partner to major cities on urban regeneration projects, through both mixed-use development and the retrofitting of buildings to industry-leading sustainability standards. These commitments are enhanced by the Group’s Better Places 2030 agenda, which strives to make a positive environmental, social and economic impact on the cities and communities where URW operates.   

URW’s stapled shares are listed on Euronext Amsterdam and Euronext Paris (Ticker: URW), with a secondary listing in Australia through Chess Depositary Interests. The Group benefits from a BBB+ rating from Standard & Poor’s and from a Baa2 rating from Moody’s.   

For more information, please visit urw.com