While airports traditionally have been seen as classic examples of public enterprises, the government's role in airport management has been changing throughout the world. This study explores airport governance models with a focus on stakeholder issues. Relatively little is known empirically about how public, private, or public-private partnership (PPP) provision of airport services affects different stakeholders. The main aim of this study is to develop a better understanding of the impact of airport governance forms on stakeholders. For this purpose, a theoretical background focused on identifying airport stakeholders and their conflicting interests is followed by a qualitative content analysis using past studies on airport management. The results suggest that a balanced approach is required to deal with stakeholder interests detached from their governance structures.