Posted on: 25 February 2015
Allegiant Travel Company has entered into an agreement to purchase two additional Airbus A320s currently operated by Philippine Airlines.
The aircraft are scheduled to enter Allegiant’s fleet toward the end of 2015 along with two Airbus A319s, taking the company’s capital expenditure for 2015 to approximately $230 million. These aircraft are in addition to a deal in which Allegiant is buying six A319s from Cebu Pacific Air.
“We continue to be successful in finding high quality, used aircraft to support our future growth,” explained Jude Bricker, SVP planning at Allegiant. “These A320s will have 177 seats in the same configuration as our current A320s. As with our other aircraft transactions, we are able to purchase these aircraft for cash. Our strong balance sheet allows us to both find aircraft to support future growth and return cash to shareholders through our previously announced recurring dividend and continuation of our existing share repurchase programme.”