Spanish multinational construction firm Ferrovial sees further investment opportunities in U.S. airports after leading a major overhaul of New York's John F. Kennedy International Airport terminal, CEO Ignacio Madridejos said on Thursday.
Speaking at the Reuters NEXT conference in New York, Madridejos stated that the infrastructure company expects long-term growth in air travel. Demand for inbound travel to the United States has declined in 2025, partly due to inflation and concerns over President Donald Trump's policies on immigration and trade.
The New Terminal One at JFK Airport carries a price tag of $9.5 billion and is expected to open in phases beginning in 2026. A consortium of labor, operational, and financial partners led by Ferrovial secured $6.5 billion in bank loans, the largest commitment ever made for an airport terminal.
Madridejos noted that despite short-term disruptions to travel, Ferrovial is focused on long-term trends. He described New York as a "fairly unique destination," with a high number of connecting passengers, and said the company had no regrets about taking on such a large-scale redevelopment.
The company, which also develops toll roads in the U.S., sells its stake in assets once they have fully matured, Madridejos explained. In July, Ferrovial announced it had completed the sale of its remaining 5.25% stake in Heathrow Airport for an estimated profit of EUR31 million.
Ferrovial's toll road division revenue rose 14% to EUR1 billion ($1.17 billion) in the first nine months of 2025 year-on-year, driven by results in North America.
Madridejos said he expects public-private partnerships to remain a cornerstone of infrastructure spending in the coming decades, especially as more Americans move to cities.
($1 = 0.8579 euros)
(Reporting by Doyinsola Oladipo in New York; additional reporting by Susan Heavey in Washington; editing by Franklin Paul and Rod Nickel; Spanish editing by María Bayarri Cárdenas)
