(CBS) – Mayor Emanuel has shelved a plan to lease Chicago’s Midway Airport, the administration confirms.

The Sun-Times reported Thursday that Emanuel told his staff the idea is off the table. One of two firms bidding on the project reportedly dropped out, removing competition.

Skeptics said the plan to effectively privatize Midway – first discussed under former Mayor Daley – would result in disaster. A 75-year privatization of the City’s parking meters has generally met with public dissatisfaction.