Swiss Life invests in development of JFK Airport
Through its fund division, Swiss Life is involved in the construction of Terminal One at John F. Kennedy International Airport (JFK) in New York. In total, Swiss Life Asset Managers and other partners are investing USD 9.5 billion in the development project.
The Zurich-based life insurer Swiss Life is investing in a development project at JFK Airport in New York through its Swiss Life Asset Managers division. According to a media release , Swiss Life Asset Managers has committed itself to a minority stake in the new construction of Terminal One. Together with JLC Infrastructure and other consortium partners, a sum of 9.5 billion dollars will be provided.
An approximately 223,000 square meter "ultramodern" terminal is to be built. It represents an "infrastructure investment with attractive long-term growth potential and fits very well with our fund's investment strategy," said Sinisha Ponzio, Head of Value Add Infrastructure at Swiss Life Asset Managers.
The new investment represents the third investment in the aviation sector for Swiss Life Asset Managers. The insurer sees this as "a vote of confidence in the future of modern aviation". Swiss Life Asset Managers does not expect the aviation industry to slow down. In this context, the airlines' improved capacity utilization, new aircraft orders, technological progress and the construction of modern airport facilities are highlighted.