Allegiant Travel Company to Execute $125 Million Term Loan

LAS VEGAS, March 9, 2011 (GLOBE NEWSWIRE) — Allegiant Travel Company (Nasdaq:ALGT), has announced that it will borrow $125.0 million on or about March 10, 2011, under a senior secured term loan facility arranged through Citadel Securities. The term loan has a six-year term and bears interest based on the London Interbank Offered Rate or prime rate. The initial interest rate will be 5.75% for the first three months. The term loan is secured by substantially all of the assets of the Company. In connection with the borrowing under the term loan, the Company made early payment in February 2011 of all existing debt obligations secured by its MD-80 aircraft. After the closing, the Company will have outstanding debt of $145 million. Proceeds from the term loan will also be used for the funding of future capital expenditures and general corporate purposes.

About the Company

Las Vegas-based Allegiant Travel Company (Nasdaq:ALGT), is focused on linking travelers in small cities to world-class leisure destinations such as Fort Lauderdale, Fla., Las Vegas, Los Angeles, Phoenix-Mesa, Orlando, Fla., and Tampa/St. Petersburg, Fla. Through its subsidiary, Allegiant Air, the company operates a low-cost, high-efficiency, all-jet passenger airline offering air travel both on a stand-alone basis and bundled with hotel rooms, rental cars and other travel-related services. In 2010, Allegiant was ranked number one for low-cost carriers in Aviation Week’s Top Performing Airline study and ranked 25 on FORTUNE magazine’s Fastest-Growing Companies list. ALGT/G