LAS VEGAS, Nev. - Allegiant (NASDAQ: ALGT), has entered into a purchase agreement with Scandinavian Airlines System, Denmark-Norway-Sweden ("SAS") to purchase up to 13 MD80 aircraft and 12 JT8D-219 spare engines in 2012 and 2013.
These purchases will primarily be used to replace engines that will be coming due for major overhauls over the next two years, thus helping the airline to optimize its engine-related maintenance expense. The agreement also allows Allegiant the flexibility to use several of the aircraft for additional MD80 fleet growth in the future, should it decide to do so.
This most recent transaction with SAS demonstrates Allegiant's ability to consistently source high quality assets at economic pricing.
Allegiant, travel is our deal.
Las Vegas-based Allegiant Travel Company (NASDAQ: ALGT) has posted 35 consecutive quarters of profitability. The company is focused on linking travelers in small cities to world-class leisure destinations such as Fort Lauderdale, Fla., Las Vegas, Los Angeles, Phoenix-Mesa, Orlando, Fla., and Tampa/St. Petersburg, Fla. Through its subsidiary, Allegiant Air, the company operates a low-cost, high-efficiency, all-jet passenger airline offering air travel and hotel rooms, rental cars and other travel-related services. The company ranked ninth this year in Forbes' Best Small Companies. Allegiant was also recently named one of FORTUNE magazine's "100 Fastest-Growing Companies" for the second consecutive year. In 2011 and 2010 Allegiant ranked 64th and 25th, respectively, on FORTUNE magazine's Fastest-Growing Companies list. In 2010, Allegiant was ranked number one for low-cost carriers in Aviation Week's Top Performing Airline study. Receive breaking news from Allegiant by visiting Allegiant's Facebook Fan Page at www.facebook.com/Allegiant or follow Allegiant on Twitter at twitter.com/allegianttravel.
