A medical device and a system and for dilating a stenotic airway of a patient are described. The medical device comprises a proximal end, a distal end, and a shaft system having an inflation lumen and a ventilation lumen the proximal end. The shaft system has a proximal shaft section and a distal shaft section. An inflatable balloon is attached to the distal shaft section in a position that is proximal to the distal end. The ventilating tip is distal to the balloon on the distal shaft section and has one or more radially facing openings. A method for treating a stenotic airway includes inserting the medical device into a patient's airway, and dilating and ventilating the airway.