In April 1996, The Port Authority of New York and New Jersey selected a joint venture group to privately develop and operate a new international terminal building at John F. Kennedy International Airport. In August 1996, Leigh Fisher Associates was retained by the joint venture, JFK International Air Terminal LLC (JFK IAT) to prepare a feasibility study in connection with financing the new terminal construction.

Tasks related to airline traffic analysis and forecasts performed by Leigh Fisher Associates included:

• Review of Airport capacity constraints and effects on air service development
• Use of the Leigh Fisher Associates gate management model to analyze passenger terminal capacity utilization ratios, and to examine implications of alternative scenarios for airline alliances and terminal occupancy
• Review of previous airline traffic forecasts prepared for the developer, and development of a methodology to reconcile "micro" and "macro" analyses
• Review of refined assumptions and methodology used to prepare updated airline traffic forecasts
• Analysis of terminal user charges and implications for airline decisions to locate their operations
• Interviews with representatives of the major international airlines serving New York City

The preliminary analyses were used by JFK IAT in discussions with the Port Authority and bond rating agencies.

Leigh Fisher Associates then:

• Prepared a Report of the Airport Consultant summarizing the analyses for inclusion in the Official Statement for the sale of bonds
• Participated in formal review meetings with the bond rating agencies

In April 1997, $934 million in Special Project Bonds were issued to finance the new international terminal. Since then, JFK IAT has assumed responsibility for operation of the International Arrivals Building and initiated construction of the replacement terminal.

Client
JFK International Air Terminal, LLC

Services
-Forecasting and Economics