Earlier this month, low-cost airline Allegiant Travel Company released its plans to purchase four additional Airbus A320 aircraft which are currently in use by another air carrier in Europe.
According to a press release from the company, the additional aircraft with be brought into Allegiant’s fleet of aircraft, comprised of MD-80s, 757s and A320s, in 2017. “We are active in the used Airbus A320 market and will engage in transactions that make economic sense for the company,” said Jude Bricker, Senior Vice President of Planning.
“These aircraft will help us maintain our desired growth rate into 2017 and provide us with additional high quality A320 aircraft.”
“It is also another demonstration of our ability to grow the fleet while still providing returns to shareholders such as our recently announced $0.25 per share recurring quarterly cash dividend and the $86 million remaining in our share repurchase authority.”
Recently named one of FORTUNE magazine’s “100 Fastest-Growing Companies” for the second consecutive year, Las Vegas-based Allegiant has a niche market in the air travel industry with a focus on linking travelers in small cities to world-class leisure destinations.