Southwest Air In JV With St. Joe For New Service

Date : 10/21/2009 @ 3:19PM
Source : Dow Jones News
Stock : ST. Joe Company (The) (JOE)
Quote : 18.15  -0.1 (-0.55%) @ 12:05AM

Southwest Air In JV With St. Joe For New Service

Southwest Airlines (NYSE:LUV)
Historical Stock Chart

5 Years : From Jan 2013 to Jan 2018

Click Here for more Southwest Airlines Charts.

Southwest Airlines Co. (LUV) said Wednesday that it would be the launch carrier for a new privately developed airport in Florida.

The airport is being developed by The St. Joe Company (JOE), one of Florida's largest landowners.

St. Joe shares were recently up 7.3% at $28.88.

Southwest, the largest U.S. domestic carrier by traffic, will start flying to four cities from the Northwest Florida-Panama City International Airport when it opens in May 2010.

Southwest added four new cities this year and is continuing to expand service through efficiency gains despite slowing its expansion plans amid the industrywide slump in traffic.

Gary Kelly, Southwest's chairman and CEO, said at a press conference that the Florida Panhandle region attracts 16 million visitors a year, most of whom travel by car.

St. Joe will "effectively subsidize" the service for three years, he said, with both companies being able to walk away from the deal after two years.

-By Doug Cameron, Dow Jones Newswires; 312-750-4135;


Latest JOE Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....

No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts

Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.