The Port Authority of New York and New Jersey on Thursday approved a $1.2 billion expansion of a terminal at John F. Kennedy International Airport on behalf of Delta Air Lines and its partners.

The authority would act as a conduit issuer for JFK International Air Terminal LLC, which would likely go to market this year with about $900 million of bonds secured by lease payments. Under the plan, Delta would vacate Terminal 3, out of which it currently handles international traffic. The airline would move that traffic into an expanded Terminal 4, which would add nine newly built passenger gates to its existing 16 gates. 

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