Delta Plans $1.2 Billion Renovation at JFK Airport

Delta Air Lines Inc. plans to renovate one terminal at New York’s John F. Kennedy International Airport and demolish another as part of a $1.2 billion overhaul of one of its hubs for overseas flights.

The financing includes $900 million in special-project bonds, as much as $215 million in passenger facility charges and at least $75 million in equity from Delta, Susan Baer, aviation director at the Port Authority of New York and New Jersey, said today at a meeting in which the agency’s board unanimously approved the plan. The port oversees the airport.