Friday, October 17, 2008

Midway Airport privatized

The lease seems to have been signed about a week and a half ago; $2.5 billion upfront to run the place for the next 99 years. TPS Chicago-ites (Chicago-ers? Chicagans?), I know you're out there, what have you heard?

The service will improve, naturally, though I'm curious what kind of regulations they will be under. Since this airport happens to be one of two that serves Chicago, there's also a good barometer by which to judge progress over the upcoming years.

Airport services aside, there's another upside to the deal. Mayor Richard Daley (from another source): "For the airlines, the lease will mean lower and more predictable airport rates and charges, which will improve their financial situation."

I've blogged a few times in the before-Justin-Ross era about privatizations-- the Indiana Toll Road comes to mind-- but here's to hoping we can get a few more. Got a good privatization story? Send it along and let's put it under the Privatization label. It would also be good to revisit them down the line and see how things are going.

1 comment:

danarch said...

It was a blip in the news out here even though it was a airport in Chicago. Midway is the red-headed stepchild though, so no one really cared. Remember, we also privatized the skyway (or some major tollway out here) as well under the same type of 99 year term.