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Regional

Chicago’s Midway to be privately run through FAA experimental program
Chicago’s Midway Airport, in a first-of-its-kind agreement in the United States, became the first large privately run hub airport in the country. The Chicago City Council approved a private investment group’s $2.52 billion bid to rights for the next 99 years. Midway Investment and Development LLC will operate and collect airport parking, concession, and passenger facility charges. The city will provide police and fire protection. Midway will be subject to the same federal oversight as public use airports.

Most commercial airports in the United States are operated and owned by government entities. Midway became eligible for leasing because Chicago decided to take part in a Federal Aviation Administration (FAA) experimental program to explore privatization to generate capital. The FAA’s Airport Privatization Pilot Program allows for five public use airports, including only one large hub airport, and Midway has filled that slot.

Chicago’s Mayor Richard M. Daley says the lease will benefit the traveling public with a range of amenities and services provided by a world-class airport operator.

Sources: nytimes.com, chitowndailynews.org