• American and United Airlines are participating in Chicago O'Hare Airport's Global Terminal project, which aims to modernize the airport.
• The project, funded by airline fees, will double the size of Terminal 2 and enhance passenger experience with new amenities.
• Airlines and city officials are committed to working together to ensure the project stays within budget and maintains O'Hare's global status.

• Years after it was first announced, a major construction project at Chicago O'Hare Airport is now a go following agreements to the plan secured by the airport's two main carriers, United Airlines (NASDAQ:UAL) and American Airlines (NASDAQ:AAL).
• The Terminal Area Project, first announced in 2018, involves the construction of a new global concourse, replacing the airport's current terminal 2, as well as two additional satellite concourses. The global concourse will be double the size of the present terminal 2.
• The agreement calls for the global concourse to have priority in development, with satellite concourses construction delayed.

the agreement announced on Friday will help expand O’Hare’s gate capacity by 25 percent, enabling the airport to accommodate a wider range of aircraft, improve gate access for arriving aircraft, reduce delays and more.

United Airlines

"We are pleased that Mayor Johnson and his aviation department have put forth a phasing plan that will ensure that TAP funds are first spent on the mission-critical portions of the program — the O’Hare Global Terminal and Satellite 1. The Global Terminal has always been the centerpiece of this program and the crucial piece needed to ensure Chicago maintains its status as a global hub. Under this new phasing plan, we can deliver the most impactful elements of the modernization project the quickest."

We are excited to move forward on this project so our customers traveling to and from Chicago can enjoy the benefits. We look forward to collaborating with the Mayor and his aviation department on the budget, scope and design of the project so that together, we can not only deliver the modernized airport envisioned in the 2018 lease contract but also ensure O'Hare's future financial stability and competitiveness for years to come."