Fla. Developer, Southwest End Deal For $26M Loss Payment

Law360, Chicago (July 3, 2012, 7:18 PM EDT) -- Florida real estate developer The St. Joe Co. revealed the early termination Monday of its agreement to reimburse Southwest Airlines Co. for up to $26 million in losses during the airline's first three years of operation at a new airport in the state.

St. Joe, which holds more than 300,000 acres of land within 40 miles of the new Northwest Florida Beaches International Airport and donated land for the construction of the travel hub in Florida's Panhandle, said in a filing with the U.S. Securities and...
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