Privatization of airports is one of the smartest things a city can do. It creates a profit incentive for the airport and in doing so it makes the airport much more responsive to the needs of its customers. Chicago is thinking of leasing Chicago Midway Airport to a private company, and could reap a financial windfall for the city.

The one drawback to these deals happening is that the airport is a huge patronage opportunity for the politicians. When the mayor can give jobs and concessions to their patrons, they tend not to want to get rid of this as it does help them get re-elected. When the airport goes private, the operator determines staffing and concessions. That is a huge amount of power to give away.

The possibility of privatizing control of the airport is one idea being considered to try to bring more money to the city, Dana Levenson, Chicago’s chief financial officer, told the newspaper.
“Does it end up in a transaction? We don’t know. Yet, we have to be considering any and all possibilities,” Levenson said.
Legislation that passed the Illinois Senate earlier in the week could help clear the way for leasing out the city’s second largest airport, a spokeswoman told Reuters late Friday.via  Yahoo! News.