Southwest Airlines coming to Panama City!

After much speculation over the last few months, it is confirmed that Southwest Airlines will indeed be offering flights into the new Northwest Florida Panama City International Airport.

There were many who doubted the rumor based on the financial numbers involved. It  appeared that the proposition of opening a new hub in this market at this point in time might not be a smart move for the large airline.

It appears that St. Joe is helping Southwest Airlines with a $26 Million commitment over 2 years. Agreeing to pay the airline up to $14 Million in the first year and up to $12 million in the second year to help mitigate the risk associated with the new venture. If Southwest should prove profitable in the first 2 years they would in turn share part of the profits with St. Joe.

There are more details to the agreement than I have time for now but I will be sharing more details in the future.

The bottom line is St. Joe and Southwest Airlines are now equally yoked with a powerful incentive to make this venture a success. I am sure that the marketing departments for both companies will be working overtime to drive visitors to Panama City Beach and the rest of the Emerald Coast.

This should improve occupancy rates in panama city vacation rentals and help to spur the local economy with additional tourist dollars flowing into the market. iTrip will continue to keep travelers informed of upcoming news and evens as they relate to Panama City Condos.