Allegiant Travel Company Announces New $100 Million Share Repurchase Authorization

LAS VEGAS. Feb 28, 2014 – The Board of Directors of Allegiant Travel Company (NASDAQ: ALGT) has authorized a new share repurchase program of $100 million.

“The actions of our board serve as another powerful example of the confidence in the cash generation of our business model,” stated Maurice J. Gallagher, Jr., Chairman and CEO of Allegiant Travel Company. “Since the beginning of the year, we have repurchased 448,000 shares at an average price of $93 per share and subsequently depleted our previous share repurchase authorization. Therefore, the board has reauthorized the company to repurchase up to $100 million of Allegiant shares. Our current cash balance and projections for cash from operations will allow us to continue to purchase aircraft and maintain our historic level of growth as well as return cash to shareholders as demonstrated by our actions today.”