CHICAGO: ORD & MDW discussion

[rivernorthlurker]

https://www.journal-topics.com/artic...28-completion/

The FAA’s decision clears the way for construction to begin on the satellite concourses and related airfield work when the ground thaws in spring 2023. The current construction timeline calls for the first satellite concourse to be completed in 2027 and the second satellite concourse to reach completion in 2028.

Demolition of Terminal 2, the airport’s oldest passenger facility, will occur in phases. The work is scheduled to begin in 2026, with a target completion date of 2030 for construction of the O’Hare Global Terminal. Construction of a large tunnel connecting passengers, baggage, and utilities between the O’Hare Global Terminal and the satellite concourses is anticipated to begin in 2024 with a construction completion date of 2030. All dates are subject to additional alteration as the extensive and challenging construction cycle begins next year.

Notably, O’Hare is one of only two airports in the country coming out of the pandemic with two higher credit ratings than it had going into it, with two recent upgrades from Fitch Ratings, and one from S&P Global Ratings on the O’Hare General Airport Revenue Bonds and the Passenger Facility Charge Bonds. These are the first rating upgrades for O’Hare in at least six years.