US Airways and the city of Philadelphia have announced a two-year lease extension for Philadelphia International Airport that will allow for $734 million in improvements at the airport.
The joint announcement Tuesday says the extension will run through June of 2015.
“The City values US Airways and all of the airlines flying from PHL. Our airline carriers are vitally important partners in our mission to sustain and fuel the economic engine of the entire Philadelphia region,” said Mayor Michael Nutter in a statement. “We share a mutual goal of increasing the region’s connectivity and significance in the global marketplace. This agreement facilitates the continuation of our partnership to move forward with the projects that are crucial to the Airport and the region.”
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Projects to be done under the terms of the lease include a 1,500-foot extension that will increase the length of one runway to 12,000 feet, allowing it to handle long-haul aircraft flying anywhere in the world. Improvements to the Terminal B and C ticketing area will include a new, automated baggage-handling and screening system and a more spacious security screening checkpoint.
Other improvements include replacement of surface rental car lots with a multistory facility and initial design of a people-mover system between concourses.
"We want to thank Mayor Nutter, Deputy Mayor Cutler and Airport CEO Gale for all of their efforts and assistance in reaching this important milestone," said US Airways Chairman and CEO Doug Parker. "With the Mayor's leadership we have reached agreement on the near term completion of projects critical to the continued improvement of US Airways operations and customer service at PHL as well as a playbook for pursuing the long term development of the airport."