LaHood: O'Hare deal is a 'big deal' not just for Chicago

Transportation Secretary Ray LaHood hailed an agreement between two major carrier airlines and Chicago's O'Hare International Airport as a big deal, not just for the city of Chicago, but for the entire country.

"This is a big deal," LaHood wrote Monday afternoon on the Department of Transportation's Fast Lane blog. "It's a big deal for the City of Chicago and the State of Illinois, of course. But O'Hare plays a central role in America's aviation network, and that makes this a big deal for all of us."

"Adding capacity to America's second busiest airport will improve service for air travelers across the country," LaHood continued.  "Because 64 million passengers use O'Hare each year — connecting to 130 domestic airports — anything we can do to move airplanes in and out more safely and efficiently has national economic significance." 

LaHood, a former congressman from Illinois, was credited with helping broker a deal between O'Hare and United and American airlines on a modernization plan that includes two new runways, the expansion of an existing runway and construction of a new terminal.

At one time the world's busiest airport, O'Hare is currently number two in terms of air traffic. United and American provide more than 80 percent of the flights to and from the airport.

The modernization project, which was proposed by outgoing Chicago Mayor Richard M. Daley, is expected to cost $3.4 billion. The portion agreed to by the airlines Monday will cost $1.17 billion. The sides agreed to revisit the remaining $2.35 billion by March 2013.