LAS VEGAS, July 30, 2012 (GLOBE NEWSWIRE) -- Allegiant Travel Company (Nasdaq:ALGT) today announced its intention to lease nine Airbus A319 aircraft from GE Capital Aviation Services (GECAS) and to lease and eventually purchase ten Airbus A319 aircraft from Cebu Pacific Air. The introduction of the A319 aircraft will support Allegiant's growth opportunities.
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"The A319 is a new aircraft type for Allegiant, but we otherwise see this as a continuation of our existing business model," said Andrew C. Levy, Allegiant President. "A319 asset values have significantly declined and now mirror the environment we saw when we first began buying MD-80s."
Allegiant plans to have the first two of these aircraft in operation in the second quarter of 2013.
Allegiant currently operates 58 MD-80 aircraft, four Boeing 757-200 aircraft and owns an additional two Boeing 757-200 aircraft.
Allegiant has scheduled a conference call to discuss the details of these plans for Monday, July 30, 2012, at 12:00 p.m. (Eastern). A live broadcast of the conference call will be available through the company's Investor Relations website homepage at http://ir.allegiantair.com. The webcast will also be archived on the "Events & Presentations" section of the site.
| When: | Monday, July 30, 2012, at 12:00 p.m. (Eastern) |
| Who: | Andrew C. Levy, President |
| Maurice J. Gallagher Jr., Chairman and Chief Executive Officer | |
| Scott Sheldon, Chief Financial Officer | |
| Jude Bricker, Senior Vice President of Planning | |
| How: | Web Address: http://ir.allegiantair.com |
Information concerning the transactions, delivery schedules, the expected economic benefits of the A319 aircraft in our operations, our fleet plan and guidance on future capital expenditures and capacity growth can be found at http://ir.allegiantair.com/events.cfm.
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. Through its subsidiary, Allegiant Air, the company operates a low-cost, high-efficiency, all-jet passenger airline, and offers other travel-related products such as hotel rooms, rental cars, and attraction tickets through its website, allegiant.com. The company was ranked ninth in the 2011 Forbes' Best Small Companies list. Allegiant was also recently named one of FORTUNE magazine's "100 Fastest-Growing Companies" for the second consecutive year.
The Allegiant Travel Company logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8305
Note: This news release was accurate at the date of issuance. However, information contained in the release may have changed. If you plan to use the information contained herein for any purpose, verification of its continued accuracy is your responsibility.
Forward Looking Statements: This press release contains forward-looking statements that are only predictions and involve risks and uncertainties. Forward-looking statements may include, among others, our ability to negotiate definitive agreements with respect to and to consummate announced transactions, timing of aircraft deliveries and retirements, future operating costs, future capacity growth, future capital expenditures, availability of used Airbus 319 aircraft in the future and other statements or comments about our future performance or strategic plans. There are many risk factors that could prevent us from achieving our goals and cause the underlying assumptions of these forward-looking statements, and our actual results, to differ materially from those expressed in, or implied by, our forward-looking statements. These risk factors and others are more fully discussed in our filings with the Securities and Exchange Commission. Any forward-looking statements are based on information available to us today and we undertake no obligation to update publicly any forward-looking statements, whether as a result of future events, new information or otherwise. We caution users of the information in this press release not to place undue reliance on forward looking statements, which may be based on assumptions and anticipated events that do not materialize.
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.
