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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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November 22, 2015
16:58 EDTEADSYAirbus CEO aims to find defense electronics buyer by year end, Reuters says
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November 20, 2015
05:54 EDTEADSYAirbus expects new model of A380 after 2022 amid slow sales, Bloomberg says
Airbus CEO Fabrice Bregier expects a newer model of the A380 won't be available until after 2022, reports Bloomberg. At a Wings Club luncheon in New York, Bregier said some carriers don't love the A380, adding that the "problem is to justify that such a big aircraft has a market. Later on, there will be an A380neo, supported by Emirates and a few other customers, but we need a business case." Reference Link
November 19, 2015
07:46 EDTEADSYThe Wings Club holds a luncheon meeting
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