A Major US Airport Is Getting A New Terminal Thanks To A $4B Investment

Dallas Fort Forth International Airport (DFW) opened in 1974 and has grown to be one of the busiest airports worldwide and the second busiest in America, with Air Advisor reporting 81.7 million annual passengers. But despite the traffic volume, and Dallas-Fort Worth being one of the fastest-growing metros in the nation in terms of wealth, DFW hasn't seen a new terminal open since 2005. That's about to change sooner rather than later: In May 2025, the airport announced a new, roughly $4 billion agreement with American Airlines to boost construction of the brand-new Terminal F, which is expected to open doors in 2027.

Granted, the announcement of a new terminal may not seem all that notable for those who've flown in recent years. Airport construction projects have become a common hurdle right alongside with traffic and TSA lines, but they're needed to modernize aging infrastructure and accommodate rising passenger levels. Federal Aviation Administration data likewise shows thousands of active airport improvement grants in place across the U.S. But although a total of $5 billion has been allocated between 2022 and 2026, these federal grants fall short. In the case of DFW, federal money in 2025 amounted to $11.7 million and only paid for an apron expansion (the aircraft parking area). Meanwhile, the new terminal is coming from capital investments secured directly by DFW, and it's allowing the growing airport to upgrade its operations considerably.

DFW is the longtime primary hub of American Airlines, which accounts for 60% of the airport's passenger traffic. The new terminal — which will bring the airport's total from five to six — is naturally a big deal for both the airline and airport, coming with an expansive agreement that will allow American Airlines to use every new gate. 

However, Terminal F was originally planned to be a much smaller facility primarily supported by the existing Terminal E, with passengers traveling to it via the airport's Skylink light-rail train. Construction for Terminal F broke ground in 2024 with this very plan in mind, working with an initial budget of $1.6 billion.

Now, with an additional $2.4 billion at play, the new terminal will be self-sustaining, with the number of gates doubling from 15 to 31, and pedestrian connections being added to other parts of the airport, among other features. Although airports make most of their money from fees charged to the airlines, the construction of Terminal F affords DFW ample opportunity to earn even more on passenger amenities (think insanely expensive airport food prices).

Terminal F is just one part (albeit a big one) of DFW's long-term upgrades. Titled DFW Forward, the capital plan launched in 2024 with an initial $9 billion budget, and it included revamping existing terminals. That budget is now over $12 billion, according to a fact sheet released by DWF in April 2026, and it includes a total of more than 180 projects that will take place over the next several years. Per the same fact sheet, DFW generates $78 billion annually in revenue, which the new terminal may boost when it becomes operational in 2027.

And now, thanks to the $4 billion investment from American Airlines, the plans also include a dedicated parking garage for Terminal F. This is more significant than it sounds; per DFW International's 2026 budget proposal, parking is the airport's biggest non-airline source of revenue. Parking and associated ground transportation netted over $240 million in both 2024 and 2025, and it's expected to bring in over $270 million in 2026. As is the case with most airports, terminal parking is pricey — at DFW, it costs up to $32 per day, while valet parking run by DFW costs $45 per day (and this is on top of the money passengers are often forced to spend at check-in). Although DFW has not announced exactly how big Terminal F's new parking garage will be, it is expected to become one of the airport's largest.