Horry County reimbursing airline $500,000 - WCIV-TV | ABC News 4 - Charleston News, Sports, Weather

Horry County reimbursing airline $500,000

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CONWAY, S.C. (AP) - Horry County will reimburse an airline about a half million dollars under a revenue guarantee agreement.

County leaders say they don't expect to structure any similar agreements in the future.

The Sun News of Myrtle Beach reports the agreement with WestJet was an effort to bring more tourists to Myrtle Beach from Canada during the summer.

Under the agreement, if WestJet did not make at least a 15 percent profit in its operating margin, the county would reimburse the airline up to $1 million.

The airline missed its profit margin on the flights by about $550,000. WestJet carried about 4,600 passengers into Myrtle Beach during the six months that ended in October.

It was the first time Horry County had provided a revenue guarantee to an airline.

 

Information from: The Sun News, http://www.thesunnews.com/

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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