PHILADELPHIA (AP)US Airways and the city of Philadelphia have announced a two-year lease extension for Philadelphia International Airport that will allow for $734 million in improvements at the airport.

The joint announcement Tuesday says the extension will run through June of 2015.

Projects to be done under the terms of the lease include a 1,500-foot extension that will increase the length of one runway to 12,000 feet, allowing it to handle long-haul aircraft flying anywhere in the world. Improvements to the Terminal B and C ticketing area will include a new, automated baggage-handling and screening system and a more spacious security screening checkpoint.

Other improvements include replacement of surface rental car lots with a multistory facility and initial design of a people-mover system between concourses.

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