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.
Allegiant, Travel is our deal.®
Las Vegas-based Allegiant Travel Company (Nasdaq:ALGT) is focused on linking travelers in small cities to world-class leisure destinations. The company operates a low-cost, high-efficiency, all-jet passenger airline through its subsidiary, Allegiant Air, while also offering other travel-related products such as hotel rooms, rental cars, and attraction tickets. All can be purchased through the company website, allegiant.com. The company was ranked ninth in the 2011 Forbes' Best Small Companies. Allegiant was also recently named one of FORTUNE magazine's "100 Fastest-Growing Companies" for the second consecutive year.
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For further information please visit the company's investor website: http://ir.allegiantair.com
Reference to the Company's website above does not constitute incorporation of any of the information thereon into this news release.
Source:Allegiant Travel Company