Allegiant Travel Company Announces the Sale of Shares of Allegiant Stock by Chairman and CEO Maury Gallagher
LAS VEGAS, NV--(Marketwired - March 11, 2016) - Allegiant Travel Company (ALGT) today announced CEO Maury Gallagher and affiliated entities have sold 292,200 shares at a price of $163.50 per share. Mr. Gallagher plans to use the proceeds primarily to retire outstanding debt for existing personal ventures.
"I remain as committed to Allegiant as the day I started with the company," stated Maurice J. Gallagher Jr., Chairman and CEO of Allegiant Travel Company. "The Allegiant business model has demonstrated its resiliency in any environment and is only getting stronger. Longer term, we should be able to continue to grow the model as we move towards simplifying our operations to a single aircraft type. I look forward to my continued investment and involvement in the company for many years."
After this transaction, Mr. Gallagher continues to directly or indirectly hold more than 3.3 million shares, which is approximately 20% of the current outstanding shares as of March 10, 2016.
Allegiant, Travel is our deal.®
Las Vegas-based Allegiant Travel Company (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 has been named one of America's 100 Best Small Companies by Forbes Magazine for five consecutive years. In 2014, AVIATION WEEK ranked Allegiant the Top-Performing Airline in North America for the third consecutive year. For downloadable press kit, including photos, visit: http://gofly.us/YFuyb.
