Over-capacity flight scheduling by commercial airlines due to the surging demand in recent years creates congestion and significant delays at major airports. This maximizing throughput attitude calls for tactical flight rescheduling to comply with airports’ capacity limitations and distribute the peak hour demand over the course of a day. Such displacements of flights may cause significant problems and costs for airlines and some cancellations or missed connections for the passengers. This paper presents an optimization model for flight rescheduling at a schedule-coordinated airport to minimize congestion and flight delays. The optimization model is used to make better scheduling intervention decisions considering the airport resource constraints and safety of operation. We have also developed a simulation method to replicate arrival and departure processes in such an airport. The simulation adheres to a first come first served (FCFS) discipline and enforces runway capacity constraints and minimum turnaround times. We compare the delays caused by an ad hoc FCFS operation with those obtained by the optimization model. Computational results from a case study demonstrate that a reduction of 40.7% and 61.6% in total delay times for the arrival and departure flights can be achieved by the optimization model. It also facilitates implementing a collaborative decision-making system for better coordination with commercial airlines.