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June 13, 2014
09:36 EDTEADSY, ALGTAllegiant Travel converts lease agreement, buys 14 Aibus A320 aircraft
Allegiant Travel announced three separate aircraft transactions for 14 additional growth aircraft and a fourth transaction for the purchase of two leased aircraft and the conversion of future operating lease obligations to forward purchases. The company has agreed to purchase twelve A319 aircraft currently leased to a European carrier until 2018. This purchase transaction is expected to be completed by the end of June. As each aircraft lease expires, Allegiant will transition the aircraft into its operating fleet. Allegiant expects to recognize approximately $30M in annual lease revenue beginning in June 2014 through 2018 and plans to assume $142M of secured debt under this transaction. The remaining two growth aircraft - one A319 and one A320 - will be purchased in 2015 and 2016 upon aircraft delivery. The company has also agreed to purchase the two currently leased A319 aircraft in its fleet. This purchase is expected to be completed in July. The remaining six aircraft under the lease agreement executed in 2012 will be purchased at the time of delivery to Allegiant, expected to be in late 2014 through 2015. The company said, "We will now have 32 Airbus series aircraft, all owned, in our fleet by the end of 2018. We expect to use debt financing along with cash reserves to purchase these aircraft. Importantly, the additional A320/A319 aircraft are all sister ships to aircraft we currently operate. We remain active in the used Airbus market and hope to add more aircraft to our fleet during 2016 and 2017." The company expects its capital expenditures to be approximately $315M in 2014 and approximately $220M in 2015.
News For ALGT;EADSY From The Last 14 Days
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August 28, 2015
09:12 EDTEADSYBoeing Airbus weakness creates buying opportunities, says Citi
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August 26, 2015
09:05 EDTEADSYAirbus delays superjumbo delivery to Transaero, Bloomberg reports
Airbus has delayed the delivery of its A389 superjumbo to Transaero Airlines in order to help the carrier cope with slowing travel demand domestically, Bloomberg reports, citing comments from Airbus' Chris Buckley, executive VP for customer affairs, in an interview at the Moscow Air Show. "We're working with them to determine new dates," Chris Buckley said. "Given the turbulence in the Russian market overall over the last two years, this is no big surprise." Reference Link
August 25, 2015
06:12 EDTEADSYAirbus seeks legal action against Japan's ministry of defence, FT reports
Airbus is seeking legal action against Japan's ministry of defence after losing out on a multi-billion dollar deal to supply helicopters to the nation's ground defence forces, the Financial Times reports, citing people familiar with the situation. Reference Link
August 24, 2015
12:26 EDTEADSYAvolon Capital acquires Airbus A321-200 aircraft on lease to Vueling Airlines
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06:39 EDTEADSYPolish opposition raises doubts over Airbus contract, Reuters reports
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August 19, 2015
10:00 EDTEADSY, ALGTAllegiant Travel agrees to purchase 50th Airbus aircraft
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August 18, 2015
16:07 EDTEADSYWoodward signs agreement with Aircelle
Woodward announced that it signed an agreement with Aircelle to supply hardware for the Thrust Reverser Actuation System, or TRAS, for the Airbus A330neo jetliner.
06:53 EDTEADSYPrivate equity firms dominate bidding for Airbus defense assets, Bloomberg says
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August 17, 2015
06:43 EDTEADSYIndiGo firms up 250 Airbus A320neo aircraft order
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