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-Allegiant Travel purchases aircraft.

Travel Business Review-May 3, 2013--Allegiant Travel purchases aircraft(C)2013] ENPublishing -

Travel Business Review - 03 May 2013

Las Vegas-based Allegiant Travel Company (Allegiant) has said that it has purchased an A319 aircraft.

The firm said that the aircraft was previously operated by easyJet, and it has a similar configuration to the nine units that Allegiant had contracted for last summer.

Andrew C Levy, Allegiant's president, said, 'The market for used Airbus aircraft remains very attractive. This aircraft is ideal in that it is an identical sister ship to the nine A319s we have committed to leasing, two of which are currently in service. This serves as another example of our commitment to acquire future growth with self-generated funds and still return cash to shareholders as evidenced by our board increasing our share repurchase authority to USD100m in late April 2013.'

The company has ambitious plans to present the new aircraft to its customers. It said that the A319 would be configured to 156 seats, and once refurbished with all its facilities it will be launched for public use in the third quarter of this year.

The company said that the aircraft was purchased in a cash deal, although Allegiant is also currently evaluating debt-financing options. Projecting its plans for the future, the firm said that it was expecting to finish the year with three A319s and 68 aircraft in total. The addition of this aircraft will not result in a material change to the company's full year capacity guidance as outlined in its most recent earnings release, the firm said.

Allegiant links travellers in small cities to world-class leisure destinations, and the company operates a low-cost, all-jet passenger airline through its subsidiary, Allegiant Air.

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Publication:Travel Business Review (TBR)
Date:May 3, 2013
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