City Council approval of new lease agreements is expected to bring at least $150 million in private investments at Midway International Airport.
The agreements were approved in July with Atlantic Aviation and Signature Flight Support, the Southwest Side airport’s two fixed-base operators.
“Midway is a gateway to Chicago, and a powerful economic engine to the communities that surround it,” said Mayor Brandon Johnson. “This investment reflects our commitment to building a stronger, more modern city while ensuring that growth at our airports creates lasting public value, supports good jobs, and keeps Chicago at the forefront of global commerce and innovation.”
Under the 20-year agreements, Atlantic Aviation and Signature Flight Support will each invest more than $60 million in their Midway facilities. The projects will include new hangars, offices, ramp and ground-support improvements, advanced air mobility infrastructure and facilities for U.S. Customs and Border Protection officers processing international arrivals. Each company will also contribute $7.5 million toward safety improvements for Runway 4L/22R. The completed facilities will revert to city ownership when the agreements expire.
Mayor Brandon Johnson introduced the lease ordinance in June. The City Council’s Committee on Aviation considered the agreements before they advanced to the full council.
Midway is among the 10 busiest airports in the world for private aviation, and demand is growing.
The new contracts come as flying by corporate and private aircraft at Midway is at its highest level since before the COVID-19 pandemic.