The host of ambitious infrastructure development projects unveiled across the globe in the final quarter of 2022 shows confidence in the future growth of aviation and the investor appeal of airports, writes Joe Bates.
It proved to be a busy end to 2022 with global traffic figures on the rise and the announcement of a number of big infrastructure development decisions that will either help transform the airports that are planning them or create new greenfield gateways.
The Chicago Department of Aviation (CDA) has received the green light to go ahead with its proposed Terminal Area Plan (TAP) at Chicago O’Hare International Airport.
The current capital programme for O’Hare is approximately $12.1 billion, which accounts for current project estimates, escalated costs permitted under the 2018 agreement, as well as capital investments agreed to both since and prior to the 2018 agreement.
The total budget for the TAP is currently estimated to be $7.1 billion, or 59% of the overall capital plan.
Brisbane Airport Corporation (BAC) is consulting with its airline partners about the possibility of a future Terminal 3 as it looks at ways of best accommodating a projected 50 million passengers annually by 2040.
Brisbane Airport is currently planning to invest more than A$5 billion over the next 10 years on upgrading its existing terminals, building extra car parking, developing BNE as a regional aeromedical hub, expanding its retail precincts and building more freight facilities.
China’s Central Government has approved the expansion of Macau International Airport to raise the gateway’s capacity, boost its operational efficiency and improve connectivity to the Special Administrative Region (SAR).
Saudi Arabia has unveiled plans for a new mega hub for Riyadh which will be called King Salman International Airport.