American Airlines and Dallas-Fort Worth International Airport announced on Monday plans to develop a sixth passenger terminal that would open by 2025.
DFW Airport will invest between $3 to $3.5 billion for the construction of new Terminal F and improvements to Terminal C, where American Airlines already operates.
The long-term plan is for Terminal F to have up to 24 gates, and design work for it is set to begin immediately. DFW Airport and American Airlines said they are exploring layout options.
"Today's announcement sets the stage for DFW Airport's next 50 years," said Sean Donohue, CEO of DFW Airport. "The new Terminal F and the expansion that could follow will provide the region with the growth it needs to compete with international business centers. The Airport is growing faster than ever, and it needs to keep pace with the Dallas-Fort Worth economy to provide jobs and connections for businesses and families."
DFW Airport said they served a record 69 million passengers in 2018, and anticipates a sharp increase in air service and passengers in the next two years.
By June, American Airlines expects to operate more than 900 daily flights from DFW Airport, offering more than 230 non-stop destinations from the airport.
Doug Parker, CEO and Chairman of American Airlines, said during the announcement that more than 31,000 team members call the Dallas-Fort Wroth area home.
"We look forward to accommodating the continued growth of our city and the region through infrastructure improvements and expansion at DFW Airport," said Fort Worth Mayor Betsy Price. "We're glad to see DFW's anchor carrier, American Airlines, headquartered in Fort Worth, collaborate with the Airport to take this area to new heights. This new terminal will further fuel economic development and job growth in our region."
Mike Rawlings called the multibillion-dollar project the "one of the most significant announcements" in his eight years as mayor of Dallas.
Renovations to Terminal C -- one of the airport's original terminals which opened in 1974 -- are expected to "included redesigned check-in areas, larger security checkpoints, expanded concessions spaces, and improved lighting and flooring," according to a DFW Airport press release.
American Airlines, also on Monday, filed a lawsuit against the Transport Workers Union and the International Association of Machinists and Aerospace Workers, which together represent their aircraft mechanics, of conducting an illegal work slowdown to gain leverage in contract talks.
The airline claimed the mechanics have caused about 900 cancellations or long delays since early February by taking an unusually long time to repair planes and refusing to work overtime.
In April, American Airlines said it would extend some flight cancellations of the Boeing 737 MAX jets through June 5. The airline which operates 24 Max jets, said it would result in about 90 flights each day being canceled, based on its current schedule.
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Fox Business' Matthew Kazin and the Associated Press contributed to this report.