Six groups vie for contract to operate airport

Six organizations are vying for the right to turn Chicago's Midway International Airport into the nation's first privately-run commercial airport.

Chief Financial Officer Paul Volpe says he is "very enthused with the strong indications of interest" in Midway.

Airport experts and Wall Street giants are competing for a 50-plus-year concession that could generate as much as $3 billion to shore up city pensions and rebuild Chicago's aging infrastructure.

In exchange for a massive up-front fee, a private operator would pocket airport revenues that topped $130 million in 2006, including parking, concessions, and passenger facility charges.

That means a private contractor would be motivated to squeeze more revenue out of Midway, possibly by making greater use of its 43 gates.