Thu, Jul 05, 2012
Airline Suffered No Losses Flying To New Florida Airport
The St. Joe Company ("St. Joe") said Monday that the Strategic Alliance Agreement For Air Service between Southwest Airlines Co. (“Southwest”) and St. Joe would be terminated early. The agreement required St. Joe to reimburse Southwest for up to $26.0 million of losses during the first three years of operation at the new Northwest Florida Beaches International Airport (ECP). St. Joe has not been required to make any payments under the agreement. The early termination is effective July 1, 2012.
“We are proud to have played a critical role in securing air service by Southwest to Northwest Florida Beaches International Airport,” said St. Joe CEO Park Brady. “Southwest enabled not only increased visitation to our region but also reduced airfares that are enjoyed by the residents of our local communities.”
Southwest initiated service to ECP on May 23, 2010, in conjunction with the opening of the new airport located at West Bay in Panama City Beach, FL. “The addition of Southwest’s service is a true success, with Southwest accounting for 57% of the passenger market share and taking the Airport from 9% of the Northwest Florida’s passenger traffic in 2009 to 25% in 2012,” according to John Wheat, ECP’s Executive Director.
“The financial safety net provided by St. Joe was instrumental in attracting Southwest Airlines to Northwest Florida Beaches International. In every respect, the Agreement with St. Joe has been a triumph. It has fulfilled its mission and achieved its intended purpose,” explained Bob Montgomery, Vice President – Airport Affairs for Southwest.
Recently, Southwest extended their lease agreement with the Northwest Florida International Beaches Airport through 2015, which the airline says illustrates their commitment to the market and the communities of northwest Florida.
More News
Chaff Thin, narrow metallic reflectors of various lengths and frequency responses, used to reflect radar energy. These reflectors, when dropped from aircraft and allowed to drift d>[...]
“Today, XB-1 took flight in the same hallowed airspace where the Bell X-1 first broke the sound barrier in 1947. I’ve been looking forward to this flight since founding>[...]
“Teaming up with the EAA and Berlin Express for this event in Cincinnati will give warbird fans a unique opportunity to see the aircraft that helped defend freedom and gave t>[...]
Hazardous Weather Information Summary of significant meteorological information (SIGMET/WS), convective significant meteorological information (convective SIGMET/WST), urgent pilot>[...]
Aero Linx: The Nebraska Aeronautics Commission The Nebraska Aeronautics Commission was created by the 1935 Legislature to oversee the development of aviation in the state. The Comm>[...]