Parsons Gets Contract To Help Expand Asheville Regional Airport - Parsons Corp (NYSE:PSN)

Parsons Corp PSN has been selected by the Greater Asheville Regional Airport Authority (GARAA) to provide program management, including evaluation, development, and management of the terminal building modernization and expansion project. Financial terms not disclosed.
The new $240 million airport terminal will replace the existing seven-gate, 115,000 square foot terminal and transform the space into a 275,000 square foot modern facility with 12 passenger boarding gates.
Under this five-year contract, replacing the current terminal will require extensive phasing and stakeholder coordination to maintain airport operations. Parsons will leverage its Parsons X digital transformation and aviation service capabilities to deliver program management information system (PMIS) support.
The terminal expansion and modernization will include the ticket lobby, concourse, and areas for TSA screening, baggage claim, and new amenities.
Price Action: PSN shares are trading higher by 0.58% at $40.63 on the last check Monday.