Trbusiness. The travel retail Trbusiness. The magazine for global retail and duty free professionals.Orlando approves $1bn expansion
By Doug Newhouse |
The Greater Orlando Airport Authority (GOAA) has approved a $1.1bn expansion plan that will raise annual passenger capacity from 35m to 40m.
When this is complete the next phase will involve the opening of a new terminal building in 2019, according to GOAA.
Last year, Orlando International Airport handled 1.8m international arrivals, although in total it is the 13th largest airport in the United States, according to GOAA Executive Director Phil Brown.
He says the improvements will be financed by $543.5m-worth of revenue bonds, with the balance provided by revenues from airport concessions and passenger charges. Investment banks will be approached in early 2014.
A new additional $1bn passenger terminal building is also being planned once total traffic reaches the 40m mark and this is expected to open in or around 2019.
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