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SWA to Panama City

runwayjockey

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DALLAS, Oct. 21 /PRNewswire-FirstCall/ -- Southwest Airlines Co. (NYSE: LUV - News) today announces its intent to begin jet service from Northwest Florida's new international airport near Panama City, Florida in May 2010. The planned service is made possible through a strategic alliance agreement developed between Southwest and The St. Joe Company (NYSE: JOE - News), one of Florida's largest landowners and real estate developers. The new airport will introduce daily jet service to the Northwest Florida Gulf Coast, providing Southwest Customers easy access to its stunning white-sand beaches and vibrant communities. For more information on the Northwest Florida Gulf Coast, please visit www.thebeachfla.com.
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Southwest has not released specific service details, saying only that it will add at least two daily nonstop flights from Northwest Florida to four destinations across its 68 airport network for a total of eight daily nonstop flights when it begins service next year. Northwest Florida will be the first international airport to open in the nation in more than a decade. The new international airport is currently under construction and is scheduled to open in May 2010. Specific details on Southwest's fares and schedule will be available in December 2009.
"I am certain our more than 90 million annual Customers will be delighted to learn they are now free to hit Florida's white-sand beaches with Southwest Airlines' great, low-fare service from across the nation's largest airline network, taking Northwest Florida visitors off the roadways and into the airways," said Gary Kelly, Southwest's Chairman of the Board, President, and CEO. "I would like to applaud the ingenuity and hard work that both Southwest and St. Joe leadership poured into this unique agreement." Kelly said.
"Southwest's arrival in Northwest Florida is expected to stimulate job growth, economic development, and give travelers more of the options they've been seeking," said Britt Greene, President and CEO of St. Joe. "St. Joe is the largest landowner in Northwest Florida with hundreds of thousands of acres in the service area of the new airport site. Southwest will help position Northwest Florida as one of America's leading beach destinations. At the same time, this region is also home to one of the world's most important defense aerospace economic clusters anchored by U.S. Air Force, Navy, and Army aviation installations."
A number of regional organizations are assisting in launching the service. Coastal Vision 3000, the Northwest Florida business group that created the regional destination brand, "The Beach," is participating in the initiative. The Bay County Tourism Development Council and The South Walton Tourism Development Council have pledged marketing resources. The Panama City - Bay County International Airport and Industrial District has worked hard to enable new air service.
The Company will release additional details regarding its future Panama City service in the coming months. The airline's entry into Florida's panhandle will be made possible in part by the airline optimizing its current flight schedule and repositioning aircraft.
Additional Information
Additional information with respect to the terms of the strategic alliance agreement between Southwest and St. Joe, including financial obligations, will be available in a Form 8-K that will be filed by St. Joe with the Securities and Exchange Commission today.
 

DieselDragRacer

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Redneck Riviera

Now home of the Buy 1 Condo, Get 2 Free Program.
 

Colonel Savage

Southern style...
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NoTime
The new "airport". Ha. The media will never learn that new terminals are not new "airports", or that being "stuck on the runway" is not correct when the aircraft were all stuck on the taxiway, or that airliners do not takeoff and land at the GATE! Jeez...

Oh, and this "new INTERNATIONAL AIRPORT has two runways that together barely cover two miles. Sheez.
 

viper01

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The new "airport". Ha. The media will never learn that new terminals are not new "airports", or that being "stuck on the runway" is not correct when the aircraft were all stuck on the taxiway, or that airliners do not takeoff and land at the GATE! Jeez...

Oh, and this "new INTERNATIONAL AIRPORT has two runways that together barely cover two miles. Sheez.
It is a new airport. Totally different location. New runways/terminal.
Located about 15-20 miles NW of the old pfn airport.
 

jonjuan

Honey Ryder
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The new "airport". Ha. The media will never learn that new terminals are not new "airports", or that being "stuck on the runway" is not correct when the aircraft were all stuck on the taxiway, or that airliners do not takeoff and land at the GATE! Jeez...
It's a tarmac-sheesh....
 

PeanuckleCRJ

Hurrrrrrrr
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mucho
How much of a subsidy are they getting?
 

ACL65PILOT

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Enjoy and welcome. I am sure your commuters will thank you. I know a ton that have to two leg it out of there.
 

Quiet Flight

I love your mom.
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Kernel foot, meet Kernel mouth.

It's not a new airport. Hedges are bad. We pay for our jobs. Age 65 is our fault. The demise of ATA is our fault. We're arrogant.

Did I forget any?
 

IAHERJ

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Apr 23, 2002
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hmmm?
Kernel foot, meet Kernel mouth.

It's not a new airport. Hedges are bad. We pay for our jobs. Age 65 is our fault. The demise of ATA is our fault. We're arrogant.

Did I forget any?

I think you covered it all
 

Colonel Savage

Southern style...
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NoTime
Kernel foot, meet Kernel mouth.

It's not a new airport. Hedges are bad. We pay for our jobs. Age 65 is our fault. The demise of ATA is our fault. We're arrogant.

Did I forget any?

Add another: You turned the airline industry into Greyhound.

Hey, I made an honest mistake. Ironic that I was thrown under the bus for criticizing the media.

I've never heard anyone on these boards do that before.
 

Colonel Savage

Southern style...
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NoTime
I can see you guys are taking this pretty seriously.
 

Mercy98

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Reading the Fine Print: Southwest Taking a Page from the AirTran Playbook



Wanna get Southwest to begin service to your city? Wanna write a check?
If some of you are scratching your heads over the news that Southwest Airlines is going to start service from "Northwest Florida's New International Airport near Panama City, Florida" in May 2010, all one needs to do is take a look at the fine print in an SEC filing from the St. Joe Company -- a major land developer in the Florida panhandle.
According to St. Joe's SEC filing dated today, $14 million in revenue guarantees, profit sharing, and a no-compete agreement are just some of the "enticements" being put on the table for Southwest.
Is this AirTran or Southwest we're talking about?
"St. Joe has agreed, to the extent that Southwest operates at a loss, to make quarterly cash payments to Southwest to cover shortfalls in the results of Southwest’s operations at the new airport during the first three years of service. For purposes of the break even calculation, the agreement establishes fixed amounts for Southwest’s non-fuel expenses and the minimum revenues that will be attributable to the air service. It also provides that Southwest’s profits from the air service during the term of the agreement will be shared with St. Joe up to the maximum amount of St. Joe’s prior break even payments.

The term of the agreement extends for a period of three years after the commencement of Southwest’s air service at the new airport. The agreement may be terminated by St. Joe if the payments to Southwest exceed $14 million in the first year of air service, or $12 million in the second year of air service. St. Joe may also terminate the agreement if Southwest has not commenced air service to the new airport within 90 days of its opening. Southwest may terminate the agreement if its actual annual revenues attributable to the air service at the new airport are less than certain minimum annual amounts established in the agreement.
Southwest’s obligation to commence air service to the new airport is conditioned upon: (1) the certification of the new airport by the Federal Aviation Administration and the Transportation Security Administration on or before April 15, 2010; (2) receipt by the local Airport Authority of a certificate of occupancy for the new airport on or before April 15, 2010; (3) the execution of satisfactory agreements between Southwest and the Airport Authority authorizing Southwest to use and lease space at the new airport and to receive any cost mitigation measures that may be available from the Airport Authority; (4) the execution of an agreement between Southwest, the Bay County Tourist Development Council, the Panama City Beach Convention and Visitors Bureau and the Beaches of South Walton Tourist Development Council, no later than 30 days from the date of the agreement, regarding the coordination of marketing resources and efforts for the air service; (5) the execution of an agreement between Southwest and Coastal Vision 3000, no later than 60 days from the date of the agreement, regarding the establishment of a program through which Southwest would receive available room nights free of charge at various rental properties in Northwest Florida for use in the marketing efforts for the air service; and (6) the execution of any other agreement that Southwest deems necessary or appropriate prior to the commencement of the air service.

Southwest has agreed that it will not commence air service to any airport within 80 statute miles of the new airport during the term of the agreement. In the event Southwest starts service to any airport that is more than 80 statute miles but within 120 statute miles from the new airport during the term, Southwest and St. Joe will either negotiate a modification to the terms of the agreement to accommodate the impact of such service or the minimum revenues used in the annual break even calculations under the agreement will automatically be increased by 10%. In such event, Southwest has agreed that the air service to the new airport in Bay County would not be diminished."​
 
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