LAS VEGAS, Feb. 24, 2015 (GLOBE NEWSWIRE) -- Allegiant Travel Company (Nasdaq:ALGT) today announced that it has entered into an agreement to purchase two additional A320 aircraft. The aircraft are currently being operated by Philippine Airlines and are scheduled to enter the Allegiant operating fleet toward the end of 2015.
"We continue to be successful in finding high quality, used aircraft to support our future growth," said Jude Bricker, senior vice president of planning. "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 program," concluded Bricker.
Including the two A319s that deliver in 2015, which were announced on February 23rd, the company now expects 2015 CAPEX to be approximately $230 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