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News Breaks
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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February 5, 2016
08:45 EDTEADSYAirbus renegotiating to delay A320neo deliveries, Reuters reports
Airbus is currently in discussions to delay delivery schedules for its A320neo jet and has informed certain airlines that the jets will be delayed by approximately two months, Reuters reports, citing industry sources. The company missed a 2015 expectation for delivering the first aircraft as a result of what it described as issues with documentation for its new Pratt & Whitney engines, the report says. Reference Link
February 4, 2016
17:46 EDTALGTAllegiant Travel sees February capacity up 23%
Sees Q1 system capacity up 15%-19%, sees Q2 system capacity up 12%-16%.
17:44 EDTALGTAllegiant Travel reports January traffic up 13.6%
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13:40 EDTEADSYAirbus: Still in talks with Poland over helicopter deliveries, Reuters reports
Airbus' (EADSY) helicopter unit said that discussions with Poland's economy ministry were continuing on the delivery of 50 helicopters for Poland's army, Reuters reports. Rzeczpospolita reported that Poland abandoned the $3B deal and agreed with the French defense ministry that it would purchase just "several" helicopter from Airbus, the report says. Poland has also initiated negotations with Lockheed Martin's (LMT) Skikorsky, the report says, citing Rzeczpospolita. Reference Link
January 29, 2016
05:55 EDTEADSYPhilips names Jean Botti as Chief Innovation and Strategy Officer
Royal Philips (PHG) announced the appointment of Jean Botti as Chief Innovation and Strategy Officer as part of the company's strategy to capture a larger portion of the HealthTech opportunities. Jean Botti, who will join Philips as of April 1, 2016 from Airbus Group (EADSY), will become a member of Philips' Executive Committee and will report directly to Philips CEO Frans van Houten. Jean Botti will succeed Jim Andrew, who left Philips in the fourth quarter of 2015 for personal reasons.
05:53 EDTEADSYAirbus says CTO Jean Botti to leave in April, Reuters reports
Airbus says Chief Technical Officer Jean Botti will leave the company in April and has resigned from the planemaker, Reuters reports. Botti's succession is "subject to the outcome of a comprehensive review on the future set-up and structure for innovation and research and technology at Airbus Group," Airbus says. Reference Link
January 28, 2016
13:17 EDTEADSYIran selects Airbus for civil aviation renewal
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11:15 EDTALGTAllegiant Travel upgraded to Buy from Neutral at Sidoti
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10:32 EDTALGTAllegiant Travel upgraded to Buy from Hold at Evercore ISI
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10:29 EDTEADSYJetBlue says 'very bullish' on A321
06:44 EDTEADSYFrance seeks Airbus, Peugeot deals as Iran visits, Reuters says
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January 27, 2016
16:42 EDTALGTAllegiant Travel reshuffles executives amid 'operational challenges'
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16:12 EDTALGTAllegiant Travel sees FY16 system, scheduled ASM up 12%-16%
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16:12 EDTALGTAllegiant Travel sees Q2 system ASM up 12%-16%
Sees Q2 scheduled ASM up 12%-16%.
16:11 EDTALGTAllegiant Travel sees Q1 TRASM down 11%-13%
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16:09 EDTALGTAllegiant Travel reports Q4 scheduled service ASMs up 25%
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16:01 EDTALGTAllegiant Travel reports Q4 EPS $3.38, consensus $3.14
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09:13 EDTEADSYUnited Technologies says slow GTF production ramp in 1H16
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January 26, 2016
06:29 EDTEADSYPoland 'very likely' to cancel $3B Airbus deal, Reuters reports
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January 25, 2016
06:19 EDTEADSYEuro regulators to further inspect, make fixes for Airbus helicopters, WSJ says
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