Mayor Michael Hancock and United Airlines CEO Oscar Munoz signed a deal Friday morning at Denver International Airport that will allow the airline to establish 24 more gates on the property by 2022.

The agreement was approved by City Council in late January and is intended to increase the airline’s flight traffic by 40% over the next five years.

DIA is United Airline’s fast-growing market and a key focus for expansion, said Steve Jaquith, the vice president of the airline’s Denver hub.

“Last year alone we introduced service to Frankfurt, added direct flights to London and surpassed 500 daily departures – a record for United in Denver,” he said. “And now, thanks to overwhelming support from the city, community leaders and our customers here in Denver, United will be able to offer more opportunities than ever for our customers to get to that important business meeting, family wedding or home to loved ones.”

The airline employs roughly 7,000 people in Denver, Jaquith said.

With the additional gates established in the next two years, United Airlines will have the rights to 90 gates at DIA and continue to serve as an economic driver for the city.

In 2018, the airport generated nearly $34 billion, representing 28% growth since 2013, according to a recent report from the Division of Aeronautics. DIA is the fifth-busiest airport in the country, and its more than 31 million passengers represent 94% of commercial airline passenger traffic in Colorado.

DIA’s economic impact is only expected to increase, as it begins the process of accepting proposals for the first section of 16,000 acres of land that the airport’s real estate division intends to transform into a “global gateway.”