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News Breaks
June 13, 2014
09:36 EDTALGT, EADSYAllegiant 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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September 30, 2014
12:03 EDTEADSYAirbus A350-900 receives Type Certification from EASA
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September 29, 2014
06:35 EDTEADSYAirbus expected to be granted A350 certification, Reuters says
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September 26, 2014
06:41 EDTEADSYAirbus exec says could add new A380 client by 2014 end, Reuters says
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September 25, 2014
09:11 EDTEADSYAirbus CEO not hurried to choose on upped jet production, Reuters says
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06:49 EDTEADSYAirbus expects upped sales as overhauled A320neo readies kickoff, Reuters says
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September 24, 2014
14:06 EDTEADSYU.S. sued over Airbus helicopter deal, Agence France-Presse says
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12:13 EDTEADSYAirbus foresees $4.6T jetliner market over next 20 years, WSJ says
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07:15 EDTEADSYAirbus packs more seats into A380 aircraft to win orders, Financial Times says
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September 23, 2014
09:18 EDTALGTCRT Capital believe long-term investors should buy Airlines aggressively
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September 22, 2014
13:49 EDTEADSYBoeing exec to up output target if supportable, Reuters says
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08:10 EDTEADSYAirbus sales head careful regarding jet output growth, Reuters says
Airbus' sales chief John Leahy said that the company has a careful perspective regarding plane output growth, by noting that it would review supply chain and other conditions before choosing to further raise the output of its A320 jets, according to Reuters, citing comments from Leahy. Reference Link
06:52 EDTEADSYReport says Germany urging Airbus for A400M cost reductions, Reuters says
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September 17, 2014
09:12 EDTEADSYAirbus exec says strategy chief to stay with company
Airbus' head of corporate communications Rainer Ohler said via his Twitter account that the company's strategy chief Marwan Lahoud is staying with the company. The news comes after speculation arose that Lahoud could potentially be the next CEO of Safran. Reference Link
07:45 EDTEADSYLufthansa orders 15 more Airbus A320neo, 10 A320ceo aircrafts
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September 16, 2014
10:40 EDTEADSYAirbus administers A320neo final ground trials, Reuters says
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06:09 EDTEADSYAirbus Defense, Space to sell some divisions
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