First Privatized Airport In U.S.?

Midway Airport may become the first U.S. airport to be privatized if the 99-year lease for $2.52 billion is approved by the City Council and F.A.A., following in the footsteps of privatizing the Chicago Skyway toll road in 2005.

"Midway Airport may make airport history as the first airport to be privatized after an investment group composed of two domestic and one Canadian companies bid $2.52 billion to win rights to a long-term lease.

Almost all commercial airports in the United States are owned and operated by local or state governments. However, Midway is eligible for leasing because Chicago applied to the F.A.A. to take part in an experimental program begun about 12 years ago to explore privatization as a means to generate capital for improvements.

As the first privatization of a major American airport, this transaction will provide unprecedented benefits for the traveling public, the airlines and the taxpayers of Chicago," Mayor Richard M. Daley said Tuesday at a news conference here."

Thanks to Mark Boshnack

Full Story: In Chicago, Private Firm Is to Run Midway Airport

Comments

Prepare for the AICP* Exam

Join the thousands of students who have utilized the Planetizen AICP* Exam Preparation Class to prepare for the American Planning Association's AICP* exam.
Starting at $245
AICP CTP Storefont Display

The first online AICP* CTP exam prep class

Are you ready to take the AICP* Certified Transportation Planner exam?
Priced at $245 for May exam!
Book cover of Unsprawl

Unsprawl: Remixing Spaces as Places

Explore visionary, controversial and ultimately successful strategies for building people-centered places.
Starting at $12.95
Book cover of Where Things Are from Near to Far

Where Things Are From Near to Far

This engaging children's book about planning illustrates that "every building has its place."
$19.95