ALLEGIANT TRAVEL COMPANY FINANCES SIX 757 AIRCRAFT
LAS VEGAS. May 30, 2014 -Allegiant Travel Company (NASDAQ: ALGT) today announced that it has borrowed $40.0 million under a loan agreement with CIT secured by six 757 aircraft and twelve RB211 engines. The notes payable issued under the loan agreement bear interest at a floating rate based on London Interbank Offered Rate ("LIBOR"). The term of the loan is 48 months and the proceeds are to be used for general corporate purposes.
"We are very pleased to be able to access the market at competitive rates," said Andrew C. Levy, Allegiant Travel Company President and Chief Operating Officer. "We continue to demonstrate that there is strong financing demand for used aircraft which is the life blood of our company. This transaction is also evidence of our commitment to the 757 and the positive contributions that it is making to the Allegiant fleet."
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 four consecutive years. For downloadable press kit, including photos, visit: http://gofly.us/qSnWj.
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Source: Allegiant Travel Company via GlobeNewswire
- Airline Industry
- Travel & Tourism
- Allegiant Travel Company