http://www.nytimes.com/2008/10/01/us/01midway.html?_r=1&em&oref=slogin

Midway Airport is poised to become the first large privately run hub airport in the country, officials said Tuesday, after an investment group bid $2.52 billion to win rights to a long-term lease.

Almost all commercial airports in the United States are owned and operated by local or state governments, and Midway is no exception. But Midway is eligible for leasing because the city applied to the F.A.A. to take part in an experimental program begun about 12 years ago to explore privatization as a means to generate capital for improvements.

Congress has allowed the agency to permit up to five airports to take part in the program, and if the Midway deal is approved, it will be the first.

Airports in the program are subject to the same federal oversight as public-use airports.

“As the first privatization of a major American airport, this transaction will provide unprecedented benefits for the traveling public, the airlines and the taxpayers of Chicago,” Mayor Richard M. Daley said Tuesday at a news conference here. “For the traveling public, the lease will mean the benefits of a world-class airport operator whose airports have been acclaimed for the range and quality of their amenities and service.”

This isn’t a priviatization as in a capitalist private institution is “priviate.” This is corporatism. The lease is owned by a company which now has a monopoly on that service an a particular area. They are also under the thumb of the federal government so they’ve just privitized the gains. In this case this priviatization may lead to a better result if completely cut from local interference or money. If they are being paid by the government in any way they will likely ripoff the taxpayer.