FAA Delays Approval Of Midway Privatization

By Marcus Gilmer in News on Jan 13, 2009 4:45PM

The FAA's final approval of the City of Chicago's deal to privatize Midway Airport has been delayed. In September, the city leased Midway to Vancouver-based YVR Airport Services Ltd for 99 years at $2.5 billion. The FAA is still hashing out some of the financial agreements and YVR says the deal won't be finalized until April. The FAA, on the other hand, insists the work will be done before then. Given the fact that YVR manages 18 airports, it should have no trouble proving to the FAA it is capable of handling one more.