Small airports are struggling financially, despite a steady yearly industry growth and their high importance and influence in the local economy. The key to growth and being profitable is innovation, which is not prioritized at small airports due to political influence, public-utility mentality and lack of pecuniary resources. Notwithstanding, Aalborg Airport, a small regional airport in Northern Jutland, Denmark, has been a successful innovator, even a self-proclaimed world’s first in RFID based baggage sorting technology. The airports innovation management was gauged through interviews with past and current management, thereafter the airport’s innovation activities and management were contrasted against the theories to see if there is anything novel and/or replicable in their approach. Findings were that despite not having a well-defined and codified innovation management system, the airport follows innovation management theory closely, having adopted an open innovation paradigm and an opportunistic innovator strategy. It was discovered that Aalborg Airport lacked an evaluation tool, therefore data was collected, and a quantitative tool devised. This thesis serves as a proof of concept that innovation performance can be measured by a modified gravity model with loglinear OLS with innovation activity as an explanatory variable and its coefficient can be interpreted as the quantitative measurement of the performance of the innovation activity.