Parsons was selected by the Metropolitan Knoxville Airport Authority to provide PM/CM services for t...


Key Takeaways:  Parsons was selected by the Metropolitan Knoxville Airport Authority to provide PM/CM services for the Knoxville Airport Terminal Development Program.The five-year program will help Knoxville Airport safely accommodate passenger growth, modernize aging infrastructure, and improve traveler experience.Parsons’ aviation program delivery experience, digital program management tools, and Federal Aviation Administration funding compliance expertise will support transparent, data-driven project delivery.  CHANTILLY, Va., Aug.  18, 2026  (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that it has been selected by the Metropolitan Knoxville Airport Authority to provide program and construction management (PM/CM) services for the McGhee Tyson Airport (TYS) Terminal Area Development Plan in Knoxville, Tennessee. The five-year contract, which is new work for the company, expands Parsons’ aviation infrastructure portfolio with a new customer.  Under the contract, Parsons will support a complex capital improvement program focused on terminal modernization, passenger growth, and long-term airport development to enhance the traveler’s experience. The company will provide centralized program oversight to help manage cost, schedule, stakeholder coordination, and compliance with Federal Aviation Administration (FAA) funding requirements.  “Parsons’ proven expertise spans the entirety of our business, from delivering complex infrastructure at major airports throughout North America and the Middle East, supporting the Federal Aviation Administration’s next-generation modernization program, and executing fire-fighting foam transitions,” said Martin Boson, president of Engineered Systems for Parsons. “This award expands our position in the aviation market with a new strategic airport customer, and we look forward to supporting the Metropolitan Knoxville Airport Authority as it advances a terminal development program that will enhance operations, improve the passenger experience, and support the region’s continued growth.”  Parsons will support transparent delivery by aligning program controls, stakeholder coordination, reporting, and construction oversight throughout the expected period of performance. In addition, the company will leverage digital program management and infrastructure delivery technologies to improve decision-making, including tools for managing cost and schedule; executive dashboards; cloud-based document and construction management systems; and data analytics for forecasting and performance monitoring.  Parsons, a leading global aviation solutions provider, has planned, designed, constructed, managed, enhanced, and sustained terminal, landside, and airside infrastructure for over 450 airports in 40 countries. This includes work on major airports including Zayed International Airport and Sharjah International Airport in the United Arab Emirates, Los Angeles International Airport in California, Newark Liberty International Airport in New Jersey, and John F. Kennedy International Airport in New York. From modernizing infrastructure to enhancing operational efficiency, the company leverages cutting-edge technology to address the evolving needs of the aviation industry.  To learn more about Parsons’ Aviation solutions, visit www.parsons.com/aviation/.  About Parsons:Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and electronic warfare, space and missile defense, transportation, water and environment, urban development, and critical infrastructure protection. Please visit Parsons.com and follow us on LinkedIn to learn how we’re making an impact.  Media Contact:Bernadette Miller+1 980.253.9781 bernadette.miller@parsons.com  Investor Relations Contact:Dave Spille+1 703.775.6191Dave.Spille@parsons.us  
            

Parsons Awarded Contract to Help Modernize Knoxville's McGhee Tyson Airport Terminal

Parsons lands five-year PM/CM contract for Knoxville airport expansion

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>Parsons was selected by the Metropolitan Knoxville Airport Authority to provide PM/CM services for t...</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Parsons won a five-year PM/CM contract from the Metropolitan Knoxville Airport Authority for the McGhee Tyson Airport Terminal Area Development Plan. The deal broadens Parsons’ aviation portfolio with a new customer and emphasizes FAA funding compliance and data-driven delivery through digital tools. The arrangement could lift backlog and provide longer-term revenue visibility in the aviation segment.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Parsons wins five-year PM/CM contract for TYS terminal development.</li><li>New Knoxville deal expands aviation backlog with a new customer.</li><li>Parsons will use cloud dashboards and data analytics for oversight.</li><li>Parsons has 450 airports in 40 countries; major airports listed.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Parsons Corporation (PSN)</strong>: Wins five-year PM/CM contract for McGhee Tyson Airport Terminal Area Development Plan; expands aviation backlog and diversification.</li></ul>
  </section>

  <section data-block="category">
    <h3>Industry News</h3>
    <p>Industry News: Highlights a key contract win expanding PSN&#039;s airport-management backlog and customer diversification, reinforcing its position in aviation infrastructure services.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Five-year contract adds meaningful aviation backlog, aiding revenue visibility.</li><li>Diversifies PSN’s customer base beyond existing airport projects.</li><li>No immediate EPS impact; revenue recognition will unfold over term.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Date of release: Aug 18, 2026.</li><li>Contract duration: five years for PM/CM services.</li><li>Customer: Metropolitan Knoxville Airport Authority; McGhee Tyson Airport.</li><li>Scope: Terminal Area Development Plan modernization and growth initiatives.</li><li>PSN aviation footprint: 450 airports in 40 countries.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Bullish near-term for PSN backlog and aviation revenue visibility over the next 6–12 months.</p>
  </section>
</section>


<article>
  <h2>Parsons Awarded PM/CM Contract to Modernize Knoxville's McGhee Tyson Airport Terminal</h2>

  <p>CHANTILLY, Va., Aug. 18, 2026 (GLOBE NEWSWIRE) — Parsons Corporation (<strong>NYSE: PSN</strong>) announced today that it has been selected by the Metropolitan Knoxville Airport Authority to provide program and construction management (PM/CM) services for the Knoxville McGhee Tyson Airport (TYS) Terminal Area Development Plan in Knoxville, Tennessee. The five-year contract marks <strong>new work</strong> for the company and expands Parsons’ aviation portfolio with a new customer. This program will help Knoxville Airport safely accommodate passenger growth, modernize aging infrastructure, and improve traveler experience, supported by centralized program oversight for cost, schedule, stakeholder coordination, and <em>FAA funding compliance</em>.</p>

  <section>
    <h3>Contract Details and Project Scope</h3>
    <p>Under the contract, Parsons will provide centralized program oversight to help manage cost, schedule, stakeholder coordination, and compliance with Federal Aviation Administration (<em>FAA</em>) funding requirements. The five-year program supports a complex capital improvement program focused on terminal modernization, passenger growth, and long-term airport development to enhance the traveler experience.</p>

    <ul>
      <li><strong>Contract duration:</strong> <strong>five-year</strong> program</li>
      <li><strong>Program focus:</strong> terminal modernization, passenger growth, and long-term airport development</li>
      <li><strong>Delivery approach:</strong> centralized program oversight to manage cost, schedule, stakeholder coordination</li>
      <li><strong>Compliance:</strong> FAA funding requirements</li>
    </ul>
  </section>

  <section>
    <h3>Delivery Capabilities and Digital Tools</h3>
    <p>Parsons will support transparent delivery by aligning program controls, stakeholder coordination, reporting, and construction oversight throughout the expected period of performance. In addition, the company will leverage <em>digital program management</em> and infrastructure delivery technologies to improve decision-making, including tools for managing cost and schedule; executive dashboards; cloud-based document and construction management systems; and data analytics for forecasting and performance monitoring.</p>
  </section>

  <section>
    <h3>Global Aviation Experience and Airport Portfolio</h3>
    <p>Parsons, a leading global aviation solutions provider, has planned, designed, constructed, managed, enhanced, and sustained terminal, landside, and airside infrastructure for over <strong>450 airports</strong> in <strong>40 countries</strong>. This includes work on major airports including Zayed International Airport and Sharjah International Airport in the United Arab Emirates, Los Angeles International Airport in California, Newark Liberty International Airport in New Jersey, and John F. Kennedy International Airport in New York. From modernizing infrastructure to enhancing operational efficiency, the company leverages cutting-edge technology to address the evolving needs of the aviation industry.</p>
  </section>

  <section>
    <h3>About Parsons</h3>
    <p><strong>Parsons</strong> (NYSE: <strong>PSN</strong>) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and electronic warfare, space and missile defense, transportation, water and environment, urban development, and critical infrastructure protection. Please visit Parsons.com and follow us on LinkedIn to learn how we’re making an impact.</p>
  </section>

  <section>
    <h3>Executive Quotes</h3>
    <p>“Parsons’ proven expertise spans the entirety of our business, from delivering complex infrastructure at major airports throughout North America and the Middle East, supporting the Federal Aviation Administration’s next-generation modernization program, and executing fire-fighting foam transitions,” said Martin Boson, president of Engineered Systems for Parsons. “This award expands our position in the aviation market with a new strategic airport customer, and we look forward to supporting the Metropolitan Knoxville Airport Authority as it advances a terminal development program that will enhance operations, improve the passenger experience, and support the region’s continued growth.”</p>
  </section>

  <section>
    <h3>Parsons’ Capabilities in Aviation Delivery</h3>
    <p>Parsons will support transparent delivery by aligning program controls, stakeholder coordination, reporting, and construction oversight throughout the expected period of performance. In addition, the company will leverage <em>digital program management</em> and infrastructure delivery technologies to improve decision-making, including tools for managing cost and schedule; executive dashboards; cloud-based document and construction management systems; and data analytics for forecasting and performance monitoring.</p>
  </section>

  <section>
    <h3>Company Background and Airport Reach</h3>
    <p>Parsons, a leading global aviation solutions provider, has planned, designed, constructed, managed, enhanced, and sustained terminal, landside, and airside infrastructure for over 450 airports in 40 countries. This includes work on major airports including Zayed International Airport and Sharjah International Airport in the United Arab Emirates, Los Angeles International Airport in California, Newark Liberty International Airport in New Jersey, and John F. Kennedy International Airport in New York. From modernizing infrastructure to enhancing operational efficiency, the company leverages cutting-edge technology to address the evolving needs of the aviation industry.</p>
  </section>

  <section>
    <h3>Additional Information</h3>
    <p>To learn more about Parsons’ Aviation solutions, visit <a href="http://www.parsons.com/aviation/">www.parsons.com/aviation/</a>.</p>
  </section>

  <section>
    <h3>Contacts</h3>
    <ul>
      <li><strong>Media Contact:</strong> Bernadette Miller, +1 980.253.9781, bernadette.miller@parsons.com</li>
      <li><strong>Investor Relations Contact:</strong> Dave Spille, +1 703.775.6191, Dave.Spille@parsons.us</li>
    </ul>
  </section>
</article>

Parsons won a five-year PM/CM contract from the Metropolitan Knoxville Airport Authority for the McGhee Tyson Airport Terminal Area Development Plan. The deal broadens Parsons’ aviation portfolio with a new customer and emphasizes FAA funding compliance and data-driven delivery through digital tools. The arrangement could lift backlog and provide longer-term revenue visibility in the aviation segment.

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Parsons Awarded Contract to Help Modernize Knoxville's McGhee Tyson Airport Terminal

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