Chicago’s Midway Airport Seeks Privatization, Foreign Investors Interested
Posted by Joshua Price on April 3, 2008
Why is no one really talking about this story? Is it because it’s not popular enough yet like the Dubai Ports deal became?
Well we’re going to mention it here:
Foreign investors are lining up to bid to operate Chicago’s Midway International Airport, the first major US airport to be privatized under a federal initiative launched more than a decade ago.
City officials say six consortiums, which include firms from France, Australia, Germany, Canada and Spain, are vying to run Chicago’s secondary airport.
The good news is that Midway can’t just sell to the highest bidder:
The deal must be approved by federal regulators and 65 percent of the six airlines operating at the airport.
The private operator must also meet safety and security standards and the Transportation Security Administration will continue to oversee screening and airports security.
Though I have to admit that I don’t have much confidence in these requirements. By the way, I wonder if anyone in the government has re-thought the 1996 decision to allow the privatization of airports?
I guess we should be thankful that the government is selling our military bases and airports out to foreign interests.
Let’s see if this story picks up some momentum in the coming days.