Midway Airport Secures $150M in Private Investments Through New Lease Agreements
New lease agreements at Midway International Airport are projected to attract at least $150 million in private investment, enhancing infrastructure and services. This development is crucial for maintaining the airport's status as a leading hub for private aviation.
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The City Council approved lease agreements in July that will generate over $150 million in private investments at Midway International Airport. Atlantic Aviation and Signature Flight Support, the airport's fixed-base operators, will invest more than $60 million each in new hangars, offices, and advanced air mobility infrastructure, alongside $7.5 million for runway safety enhancements.
The contracts come as corporate and private flying at Midway has reached pre-pandemic levels, underscoring the airport's significant role in the aviation sector. Upon expiration of the 20-year leases, all facilities will revert to city ownership, reinforcing a long-term commitment to public value and economic growth.
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