PFC REVENUES FINANCING PROJECTS AT NYC AREA AIRPORTS
February 20, 2024
On January 8, 2024, the Port Authority of New York and New Jersey (“PANYNJ”) announced plans to use passenger facility charge (“PFC”) revenue for three infrastructure projects at Newark Liberty International Airport (“EWR”), John F. Kennedy International Airport (“JFK”), and LaGuardia Airport (“LGA”). The FAA authorized a $4.50 collection level for the PANYNJ’s new application which requests $275,050,000 in PFC funding. Estimated charges at EWR will become effective on June 1, 2025, while estimated charges at JFK and LGA become effective on July 1, 2025, with all estimated charges set to expire on April 1, 2026.
If you have any questions, please contact Evelyn Sahr at 202.659.6622 or esahr@eckertseamans.com; Drew Derco at 202-659-6665 or dderco@eckertseamans.com; Jay Julien at 202.659.6648 or jjulien@eckertseamans.com, or any other attorney at Eckert Seamans with whom you have been working.
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