Allegiant Travel Company Announces the Forward Purchase of Four A320 Aircraft

LAS VEGAS, Feb. 3, 2015 (GLOBE NEWSWIRE) — Allegiant Travel Company (Nasdaq:ALGT) today announced that it has entered into an agreement to purchase four additional A320 aircraft. The aircraft are currently being operated in Europe and are scheduled to enter the Allegiant operating fleet in 2017.

“We are active in the used Airbus A320 market and will engage in transactions that make economic sense for the company,” said Jude Bricker, Senior Vice President of Planning. “These aircraft will help us maintain our desired growth rate into 2017 and provide us with additional high quality A320 aircraft. It is also another demonstration of our ability to grow the fleet while still providing returns to shareholders such as our recently announced $0.25 per share recurring quarterly cash dividend and the $86 million remaining in our share repurchase authority,” concluded Bricker.

These aircraft are expected to begin service in the second half of 2017. The purchase of the aircraft will take place upon delivery in 2017 and will not impact 2015 CAPEX, which is still expected to be $175 to $185 million.