Calling La Guardia and Kennedy International airports "two of the worst airports in America, for large airports," New York City Mayor Rudolph Giuliani is seeking to turn their management over to private firms. He has vowed never to renew their lease to the Port Authority of New York and New Jersey.

Even if he is successful, the privatization process will take a long time, however.

• The Port Authority's lease doesn't expire until the end of 2015 -- four mayoral elections away and at least 14 years after Giuliani leaves office.

• The mayor's aides say he is so intent on wresting control of the airports from the Port Authority -- and so confident of the potential benefits -- that in the next year or two he will sign an agreement binding on the city.

• City officials said they hoped that having an agreement might persuade the Port Authority to end its lease early -- but Port Authority officials have said that is highly unlikely.

• Giuliani calls the Port Authority "the worst form of a government bureaucracy that is running something that should be run by private enterprise."

Under terms of its lease, signed in 1947, the Port Authority pays the city varying amounts each year -- depending on the profit it makes by operating the airports. Profits include revenues from terminal rentals, parking charges and flight fees.

The payment have fluctuated over the years from as little as $3.1 million to as much as $87.2 million.

Giuliani claims that more efficient management of the airports by private firms could increase the city's profits by as much as $200 million a year.

Source: David M. Herszenhorn, "Giuliani Presses for Agreement to Privatize City's Airports," New York Times, February 10, 1999.