<P> The air show features both civilian and military pilots . Flying teams have been sponsored by companies including Oracle and Red Bull . Many of the Air Show performers utilize Chicago's third airport, the Gary / Chicago International Airport in nearby Gary, Indiana, for ground support . The U.S. Army Golden Knights have participated each year for several years running . The U.S. Navy Blue Angels and U.S. Air Force Thunderbirds alternate annually as headliners . </P> <P> The show was first held in 1959 under the name "Lakeshore Park Air & Water Show," on a budget of $88 . The event featured a Coast Guard Air Sea Rescue demonstration, water skiers, a water ballet, games and a diving competition . The following year, the U.S. Air Force Thunderbirds and Golden Knights Parachute Team were added to the show . </P> <P> Since 1989, corporate sponsorship participation has underwritten production costs of the air and water show . The event has been managed by the Mayor's Office of Special Events since 1994 . </P> <P> In 2008, for the 50th annual show, the event was extended from two days to three . The Friday show, which is typically an unofficial preview and rehearsal show, became a part of the scheduled performances . Actress Florence Henderson opened the airshow with the singing of the American National Anthem . The show featured Chicago theater alumni Bill Murray, who parachuted in to the event with the Golden Knights in promotion of the United Service Organization, and Gary Sinise, who performed a live concert with his Lt. Dan Band . The concert concluded with a B - 1 bomber fly - by and an evening of fireworks . Several freestyle jet skiers also competed at the 2008 show . LXF Pro Tour champion Gary Burtka lead Team Twangled teammates Greg Brock, Mike Hoffman, and Michael Niksic . The Mayor's Office of Special Events estimated that the show drew a record crowd of approximately 3.1 million spectators . </P>

Who pays for the air and water show