BRADENTON, Fla. – Atlanta inked a 20-year lease with Delta Air Lines to keep the carrier based in the city for the next two decades.
The lease, signed by Mayor Kasim Reed and Delta Air Lines Chief Executive Officer Richard Anderson on Wednesday, paves the way for a $6 billion capital program at Hartsfield-Jackson Atlanta International Airport.
"As part of the agreement, we have maintained our status as one of the most cost competitive airports in the country, kept our rates low for all airline carriers, and put in place a forward-looking $6 billion capital improvement plan," said airport general manager Miguel Southwell.
The new lease takes effect July 1, and requires Delta to keep its corporate headquarters in Atlanta through 2036.
The lease includes an option to extend the term an additional 10 years and prohibits the establishment of another commercial airport in Atlanta.
The $6 billion CIP unveiled in February will be funded over the next 20 years, and is designed to keep pace with rising passenger and aircraft demands.
The plan includes building two new domestic parking decks, adding five gates to the domestic concourse, building a sixth runway, and investing more than $900 million in a new international concourse.
A $500 million hotel and mixed-use commercial complex as well as new cargo and firefighting facilities are also included.
Hartsfield-Jackson saw a record 101 million passengers last year, a 5.52% increase over 2014.