Simple Flying - Steven Walker

Three of the Port Authority’s five airports will undergo significant redevelopment as part of the plans.

The Port Authority of New York and New Jersey has approved its budget for 2023. Following a month-long public consultation process, the agency will work with a total budget of $8.3 billion next year. This is made up of $2.9 billion for multiple infrastructure projects, including redevelopment at its three largest airports. $3.7 billion has been earmarked for general operating expenses, and the remaining $1.7 billion will go on debt repayment.

The agency is responsible for five airports, together forming the largest network of airports in the world – New York John F. Kennedy International Airport (JFK), Newark Liberty International Airport (EWR), LaGuardia Airport (LGA), New York Stewart International Airport (SWF), and Teterboro Airport (TEB).

Almost $1 billion will be spent on security, with a particular focus on cyber security. This will be the agency’s largest-ever security budget. $55 million will go towards the agency’s net-zero sustainability goals, and a further $17 million is to be invested in new technologies to improve the customer experience.

Full Article

Not a member?
Take a look at our member benefits