UPS extends contract at Gary/Chicago Airport
Contributed By: The 411 News
Cargo service giant adds another 5 years to its initial 2020 Agreement
Gary – The Gary / Chicago International Airport (GCIA) announced the expansion of their initial agreement with cargo service giant United Parcel Service (UPS), which began air cargo operations at the airport in November of 2020.
The initial agreement was announced in May 2020 and called for an inaugural term of a five (5) year lease agreement with the option to extend for two additional 5-year terms, for a total tenure of 15 years.
The agreement announced this week resets the airport’s 2020 agreement with UPS, adding an extension of another 5-year term to the agreement and potentially keeping UPS at GCIA until 2040.
“This is an exciting moment for the Gary / Chicago International Airport and a continued example of the benefits of our continued investment in our aviation infrastructure and increasing our capabilities,” said GCIA Executive Director Dan Vicari. “The initial 2020 agreement provided GCIA with a critical competitive advantage over regional peer airports, and further solidified our increasingly important role within the Chicago aviation system.”
The initial agreement included a 150,000 square foot ramp, providing enough capacity to park two A300s. In early October, GCIA held a groundbreaking announcing its $24 million “Phase 1” expansion of its cargo logistics sector.
When Phase 1 is completed, it will have positions for eight wide-body aircraft. When the entire cargo logistics project is completed, it will provide positions for up to 18 wide-body aircraft.
Since beginning air cargo service in 2020, operations have quickly scaled. GCIA now ranks 3rd in the State of Indiana on its freight volume, with this extension of the UPS agreement as well as the expansion of its cargo logistics infrastructure anticipated to fuel further growth in the coming years.
Story Posted:11/15/2024
|
