The Port Authority of New York and New Jersey has proposed a $10.3 billion budget for 2027 that includes $4 billion in capital spending, with funding to complete the first phase of the new Terminal 1 at John F. Kennedy International Airport (JFK) and to keep building a new AirTrain Newark at Newark Liberty International Airport (EWR).

The bistate agency unveiled the proposal in a press release dated November 11, 2026. The budget consists of $4.5 billion for operating expenses, $4 billion for annual capital spending, $1.7 billion for debt service and $0.1 billion in deferred expenses. The Board of Commissioners plans to seek adoption at its meeting on December 17, 2026, after a public comment period that runs until December 15, 2026.

What the 2027 budget funds at the airports

At JFK, the proposed capital funding covers the ongoing redevelopment, including completion of the first phase of the new Terminal 1 and a new ground transportation center, according to the release. At Newark Liberty, construction of the new AirTrain Newark continues. The agency describes it as a wholly new system, designed to meet increasing passenger demand, that will replace an aging system past its useful life.

Planning and design work continues for a new Terminal B at Newark Liberty and for the Terminal A gate expansion. The budget also covers the first year of operation of a new entry point to the Newark Liberty International Airport Train Station, served by AirTrain Newark, Amtrak and NJ TRANSIT, which the agency says will expand transit and airport access for historically underserved areas of Newark and Elizabeth. At LaGuardia Airport (LGA), mass transit access improvements continue.

Port Authority Executive Director Kathryn Garcia said:

“From building a new Midtown Bus Terminal to transforming JFK and Newark airports, we are delivering the modern transportation infrastructure that supports the growth and development of this region.”

Chairman Kevin O’Toole said the proposal gives equal weight to two priorities: advancing what he called generational transformations of the transportation network, and investing in state-of-good-repair projects for legacy facilities in both states.

Where the airport programs stand

The 2027 proposal follows the $45 billion 2026-2035 capital plan, which the agency proposed in November 2025. In that plan, the Port Authority said it was in the midst of a more than $50 billion wholesale remaking of its three major airports, anchored by public-private partnerships with airline and development partners.

At JFK, the capital plan listed the $4.2 billion Terminal 6 and the $9.5 billion New Terminal One as the anchor projects of the redevelopment, with more than $15 billion of the $19 billion program privately financed. The plan said the first gates of the new international terminals 1 and 6 were scheduled to open in 2026, and it called for a transformation of AirTrain JFK with new train cars to double capacity. In the November 11, 2026 release, the agency said the two new JFK terminals are approaching completion and will open to passengers soon.

At Newark Liberty, the capital plan put the new AirTrain Newark at $3.5 billion and provided funding to set up a public-private partnership to design and build the new Terminal B. It also proposed funding for a third major taxiway to reduce flight delays and a new, simplified roadway network. The $2.7 billion Terminal A opened under the previous 2017-2025 capital plan.

At LaGuardia, where $8 billion was invested through public-private partnerships at Terminal B and Terminal C under the previous plan, the capital plan calls for replacing the 85-year-old Terminal A while respecting the landmark status of its rotunda. The 2027 budget release notes that LaGuardia was named the nation’s best airport by the Forbes Travel Guide for a third year in a row.

Fares, security and the rest of the budget

Under policies adopted by the Board of Commissioners in 2008, 2011 and 2019, automatic inflation-based adjustments to bridge and tunnel tolls and to AirTrain fares are scheduled to take effect in 2027, according to the release. Separately, the PATH single-ride fare will rise by 25 cents to $3.50 on January 3, 2027, under the previously approved capital plan.

The proposed operating budget of $4.5 billion is a 5.7 percent increase over the 2026 operating expense budget, after new assets and other priorities are included. It allocates more than $1.1 billion to security, which the agency calls its largest-ever allocation, including new technology to address cybersecurity threats, and funds 120 new cadets for the Port Authority Police Department (PAPD) ahead of upcoming retirements.

The operating budget also includes nearly $1 billion for maintenance, among it an incremental $25 million for major repairs to address the impact of extreme weather on legacy facilities. Outside the airports, capital funding goes to the replacement of the Port Authority Bus Terminal with a new Midtown Bus Terminal, the Restoring the George program at the George Washington Bridge, PATH track and railcar work, and the Port Street Corridor Improvement project at Port Newark. The agency projects 121 million vehicles at its bridges and tunnels, 67 million PATH riders and 9 million twenty-foot equivalent units (TEUs) at the seaport in 2027.

A year earlier, the agency’s proposed 2026 budget totaled $10.1 billion, including $4.1 billion in capital funding, and projected a record of more than 148 million passengers at its airports in 2026. The Port Authority is self-funded and receives no revenue from New York state, New Jersey or New York City; about 65 percent of its revenues come from sources other than tolls and fares, such as lease payments and third-party fees.

The Boeing 787 Dreamliner has carried more than 1.3 billion passengers since entering service on October 26, 2011, and has enabled airlines to open more than 550 nonstop routes between city pairs that were never previously served, Boeing said in an article marking 15 years of 787 service. Operators quoted by Boeing said the airplane has changed how they build their networks.

The article, published on Boeing News Now on November 12, 2026, says the 787 has more than 2,450 orders from 91 customers, many of whom marked the airplane’s 15th anniversary at this year’s 787 Fleet Team Conference in Huntington Beach, California. Boeing describes the 787 as the world’s bestselling passenger widebody in history.

Where the 787 flies

According to Boeing, the global 787 fleet connects more than 530 destinations. Its longest nonstop routes include London to Perth at 7,829 nautical miles, Dallas to Melbourne at 7,811 nautical miles and Auckland to New York at 7,670 nautical miles. Boeing says that in 2025 the 787 flew 28% of all long-haul routes, which it defines as 4,000 to 8,000 nautical miles, and that the type is also used on high-frequency, high-demand routes across Asia.

What operators told Boeing

Jordan Becroft, senior fleet engineering manager for Jetstar Airways, said the technology designed into the airplane was so advanced at the time that, 15 years later, “you feel like you’re dealing with new technology.” He said the 787 “has fundamentally changed what’s possible” by enabling Jetstar to operate long-haul international routes as a low-cost carrier.

All Nippon Airways (ANA), the launch customer, began 787 service on October 26, 2011, with a specially chartered flight from Narita Airport in Tokyo to Hong Kong. Shinchiro Ohya, ANA’s director and 787 fleet chief, said the airplane “has completely reshaped ANA’s global network,” and that its range and efficiency are used to open direct routes to midsize markets that were not profitable before.

Boeing’s view of the next phase

John Sims, Boeing’s 787 fleet chief, said the airplane was set up for multiple generations of service. He said the 787 continues to deliver fuel efficiency at a time when fuel prices remain a major concern, while helping operators open new routes and expand their capabilities.

John Murphy, the 787 chief project engineer, said customers have always had a big voice in the program. He noted that the 787 now has more than 90 customers, ranging from operators with a few airplanes to airlines such as United and ANA with more than 90, and that their perspectives are very diverse.

Boeing’s article does not give current delivery or backlog figures for the 787, or a breakdown of the 2,450 orders by model.

The High Court of Justice in London made a winding-up order against Global Airlines Ltd on November 4, 2026, and appointed the Official Receiver as liquidator the same day, according to a notice published in The London Gazette on November 12, 2026. The order follows a petition presented on May 29, 2026.

Global Airlines Ltd, company number 13508008, is registered in London. The website of Global Airlines, the Airbus A380 startup, names James Asquith as founder and CEO and refers to Global Airlines Ltd, and Companies House lists James Edward Asquith as a director of the company since its incorporation on July 13, 2021.

What the court notices show

The Gazette notice of November 12, 2026, filed under Corporate Insolvency as a winding-up order, lists the case as No 004213 of 2026 in the High Court of Justice, with the petition filed on May 29, 2026. It names the Official Receiver, V Prime, as liquidator, with a Birmingham address.

An earlier Gazette notice, published on June 18, 2026, set out the petition. It was presented under the Insolvency Act 1986 in the Insolvency and Companies List of the Business and Property Courts of England and Wales, by a petitioner based in the United States who, according to the notice, claims to be a creditor of the company. The hearing was first listed for July 15, 2026, at the Rolls Buildings in London. The notices do not state the amount claimed.

What a winding-up order means

Under UK government guidance, the court issues a winding-up order if it decides a company cannot pay its debts. An officer of the court, the official receiver, is then put in charge of winding up the company, and directors must cooperate with the official receiver. The guidance says the company’s bank account will usually be frozen and that the official receiver sells the company’s assets or property.

The company and its A380

Companies House records Global Airlines Ltd as a private limited company registered at First Floor, 3 St. Michael’s Alley, London, with a nature of business listed as agents involved in the sale of machinery, industrial equipment, ships and aircraft. Its officer list shows three active directors, two of them appointed on May 5, 2026, and four resignations. When AirPro News checked on November 13, 2026, the Companies House overview still showed the company’s status as active.

The Global Airlines website describes an airline founded in 2021 to “take passengers back to the Golden Age of Travel,” with the A380 at the center of the business. It names 9H-GLOBL as its first fully acquired A380 and says the aircraft has carried paying passengers and crossed the Atlantic multiple times. The site says 9H-GLOBL is heading to Tarbes to park after maintenance in Dresden. AirPro News has previously covered the startup’s plans to bring the A380 back for premium travel.

The website did not mention the winding-up order when AirPro News read it on November 13, 2026, and no statement from the company on the order was found.