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UCAL has $1B to spend

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densoo

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United Continental Holdings, Inc. has added a news release to its Investor Relations website.

Title: $1 Billion Redevelopment Project at Houston's Bush Intercontinental Airport to Begin

Date(s): 23-May-2011 1:31 PM

HOUSTON, May 23, 2011 /PRNewswire via COMTEX/ --

Mayor Annise Parker and the Houston Airport System in partnership with United Continental Holdings, Inc. (NYSE: UAL) today announced that construction on the first phase of the $1 billion redevelopment project at Bush Intercontinental Airport will begin by the end of the year. Phase one of the three-phase project will create a new Terminal B south concourse dedicated to domestic regional jet operations.



In addition, United announced that it is extending its lease on Terminal C at Bush Intercontinental Airport to 2027.


Built in 1969 as one of the airport's two original terminals, Terminal B has reached its maximum capacity. The $161 million south concourse project will replace the existing south side flight stations with a 225,000 square foot facility to accommodate United's fleet of regional aircraft, allowing for both operational flexibility and a better customer experience by providing improved and expanded gate lounge space, concessions and restroom facilities.


The new Terminal B south concourse will feature:




A wide connecting bridge to a modern central passenger lounge

Spacious passenger lounge areas with ample concession choices, restroom facilities and expansive tarmac views

A high-efficiency boarding process that will allow for up to 30 flights to depart through three main boarding zones

Durable and modern interior finishes

A flexible gate layout that will accommodate aircraft today and in the future

A design that incorporates energy-efficient techniques using Leadership in Energy and Environmental Design (LEED) criteria



"As the largest hub for the largest airline in the world, Bush Intercontinental is positioned to serve the world as United builds its global network," said Houston Mayor Annise Parker. "Our airport serves as one of the most important economic engines in Houston and we are committed to expanding the portal to our global business connections."


"This project and the extension of our Terminal C lease to 2027 clearly demonstrate United's commitment to Houston and will help Houston maintain its status as an international city," said Jeff Smisek, United's president and CEO. "Houston is United's largest hub, and our investment will open opportunities for additional growth."


Plans for future phases of the $1 billion redevelopment project include:




Redevelopment of the central Terminal B lobby and baggage claim areas

A new international-capable north concourse for mainline and regional jet flights

A new Terminal B Federal Inspections Services (FIS) facility

Infrastructure improvements (which include improvements to existing roadway, signage, utilities and fuel-storage systems)



Construction of the entire redevelopment project is planned over the next seven to 10 years, with phase one expected to be completed in late 2013.


The Houston Airport System is partnering with United on the project, and the new construction will be a significant investment into the local economy by creating many jobs.


"Together, we serve millions of customers at an important international gateway and by investing in our infrastructure, we are ensuring that we may serve even more global passengers for many more years," said Mario Diaz, Houston Airport System Director of Aviation.


SOURCE United Continental Holdings, Inc.
 

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