Delta Air Lines has reportedly struck a deal with the Port Authority to go ahead with plans to renovate their archaic JFK Airport terminals.

According to published reports, the long overdue makeover will cost a whopping $1.2 billion! 

Under the plans Delta would depart from Terminal 3 and move into Terminal 4. Domestic flights will continue to depart and arrive at Terminal 2. 

The historic Pan Am Worldport will be demolished to make way for a much needed parking lot.

Terminal 4 will offer passengers nine additional gates, a bigger baggage claim area and an expanded U.S. Customs area. 

Delta stated the new plans will create 6,000 jobs and the airline added it will pay for a majority of the project. Work starts this fall and is expected to be completed by 2013.