Investors Given More Time To Buy Midway | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

 Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-12.01.25

AirborneNextGen-
12.02.25

Airborne-Unlimited-11.19.25

Airborne-AffordableFlyers-11.20.25

AirborneUnlimited-11.21.25

LIVE MOSAIC Town Hall (Archived): www.airborne-live.net

Fri, Apr 03, 2009

Investors Given More Time To Buy Midway

Privatization Effort Stalls In Economic Crisis

The City of Chicago, which is expecting a big payday when private investors take over Midway Airport (MDW), has given lead investor Citi Infrastructure Investors another six months to raise the cash to pay for the 99-year lease.

Citi is partnered with YVR Airport Services and John Hancock Life Insurance in the deal, which will put $2.52 billion into city coffers. As with everything else lately, getting the financing has been the hard part.

Jodi Kawada, deputy press secretary for Mayor Daley, told the New York Times, "...because the city continues to feel that this deal will provide great benefit to Chicago taxpayers and residents, including 900-million dollars to invest in city infrastructure, we may allow some extra time to ensure we are doing everything we can to close this transaction if possible and preserve that benefit.”

If Citi cannot obtain financing, the group loses a $126 million letter of credit it gave the city to secure the deal -- so either way, Chicago makes out OK. Daley wouldn't have it any other way!

FMI: www.ohare.com

Advertisement

More News

NTSB Prelim: Cirrus Design Corp SR20

The Airplane Made An Uncommanded Right Yaw And Roll, And He Was Unable To Maintain Control Of The Airplane On November 11, 2025, about 1750 central standard time, a Cirrus SR20, N8>[...]

ANN's Daily Aero-Linx (11.30.25)

Aero Linx: Florida Antique Biplane Association "Biplanes.....outrageous fun since 1903." That quote really defines what the Florida Antique Biplane Association (FABA) is all about.>[...]

ANN's Daily Aero-Term (11.30.25): Wind Shear Escape

Wind Shear Escape An unplanned abortive maneuver initiated by the pilot in command (PIC) as a result of onboard cockpit systems. Wind shear escapes are characterized by maximum thr>[...]

Aero-News: Quote of the Day (11.30.25)

“Working closely with the Polish Armed Forces, we’re focused on disciplined execution to help enhance Poland’s defense capabilities and keep up with the strong de>[...]

Airborne 11.26.25: Bonanza-Baron Fini, Archer v LA NIMBYs, Gogo Loses$$$

Also: Bell 505 on SAF, NYPA Gets Flak For BizAv 'Abuse', FAA Venezuela Caution, Horizon Update Textron Aviation has confirmed it will be ending production of the Beechcraft Bonanza>[...]

blog comments powered by Disqus



Change Display

Headlines Only | Headlines w/ Teasers | View Everything

Advertisement

Top Videos

Airborne 10.03.25: Phantom 3500 Buy, ‘Chinese Military Company’, NOTAM Redesign

Airborne Affordable Flyers 10.02.25: MOSAIC Start Date, AFE25 Tickets, ePulitzer

Airborne 10.01.25: New Gulfstream G300, Affordable Flying Expo Tkts, Starship 11

See All

Advertisement

Podcasts

Advertisement

© 2007 - 2025 Web Development & Design by Pauli Systems, LC