In a press release last week Allegiant, a low cost airline and travel company announced that Andrew C. Levy, President and COO had resigned from his executive positions with the company. Additionally, Levy will step down from the Allegiant board of directors the statement indicated.
During his 13 years with the company, Mr. Levy served as President, Chief Operating Officer and Board Member as well as Managing Director and Chief Financial Officer.
In that time, Levy oversaw the growth of Allegiant from a single aircraft company to a “billion dollar leader in the leisure travel space that has posted 46 consecutive profitable quarters.”
“Andrew and I have been shoulder to shoulder at Allegiant since its earliest days. He has been tremendously valuable in building the company to where it is today,” said Maurice J. Gallagher Jr., Allegiant’s Chairman and CEO of Allegiant Travel Company. “I thank him for his contributions. I know I speak for many when I say he will be missed.”
In the coming months, Levy will remain available to the company as an advisor while Gallagher and the executive team, who will temporarily assume Levy’s duties, search for a successor.
“This is a decision I considered carefully and feel confident there is tremendous momentum for the initiatives I’ve championed. I have no doubt Allegiant will not skip a beat due to the outstanding management team that remains intact, led by Maury,” said Levy. “These past 13 years have been exciting, and I am extremely proud of the company we have built, but it is time for me to pursue more entrepreneurial opportunities. I am excited about the future. Allegiant’s future is also very bright and I feel confident I am leaving at a time when Allegiant is strong, healthy and poised for ongoing growth.”
“Allegiant’s ability to produce strong financial results, successfully balance capital allocation opportunities for company growth and shareholder returns has long been viewed as positive by the investment community,” said Levy. “I continue to hold a large investment in Allegiant, which I look forward to continuing into the future.”