Delta proceeds with New York's LaGuardia US$4b project without Goldman

Transportation officials Thursday approved a revised US$4b plan from Delta to renovate its terminal at New York's LaGuardia Airport after Goldman, Sachs & Co , a financial partner in the project, exited the deal. Delta now plans to pay for nearly the entire project by itself, although the Port Authority of New York and New Jersey will still contribute up to US$600m as previously agreed. "Following a period of fiscal review, Delta has opted to directly fund and finance the costs of its LaGuardia redevelopment project, an arrangement that Delta and Goldman Sachs agree is in the best interest of both parties," Delta said. The Port Authority board signed off on the revised deal at a meeting on Thursday. The authority operates LaGuardia and other major New York City-area airports. The project, expected to be substantially completed by 2026, will improve roadways, expand the East Parking Garage, connect to the central hall, build a new electrical substation and reconstruct taxi and for-hire vehicle areas.<br/>