United and American Airlines Team Up to Rebuild O’Hare Terminal 2

United Airlines Holdings Inc. and American Airlines Group Inc. have given the green light to Chicago’s proposed overhaul of O’Hare International Airport, a significant step forward following extensive negotiations.

The ambitious $8.5 billion renovation project aims to revamp O’Hare, the world’s fourth busiest airport, ensuring its continued prominence on the global aviation map.

In statements released, both airlines underscored the collaborative effort required to navigate the challenges ahead and emphasized the importance of completing the project within the allocated budget. American Airlines expressed optimism about the endeavor, acknowledging the upcoming hurdles while highlighting the necessity for ongoing cooperation.

United Airlines particularly commended Mayor Johnson and the aviation department for presenting a phased approach that prioritizes essential components such as the O’Hare Global Terminal and Satellite 1. This strategic phasing enables the swift realization of key modernization objectives, crucial for maintaining Chicago’s status as a vital hub in the aviation network.

Crucially, the agreement stipulates that any alterations to the project scope or budget must receive approval from the airlines. Additionally, construction will proceed in stages, with initial focus directed towards one of the two satellite concourses. The Chicago Department of Aviation will oversee the phased construction of the Global Terminal, slated to replace the existing Terminal 2.

The revised plan has garnered praise from American Airlines, affirming its alignment with the goal of preserving O’Hare’s competitiveness. Earlier assessments have indicated substantial economic benefits associated with completing the project as envisioned, including a projected $18.4 billion in economic activity and the creation of 95,000 jobs by 2033.

Furthermore, upon project completion, an estimated 1,600 jobs would be generated, with a significant portion directly linked to airport operations. The anticipated increase in state and local tax revenues underscores the broader economic implications of the O’Hare redevelopment initiative.