LAS VEGAS -- Allegiant Travel Company announced the purchase of one A319 aircraft. The aircraft was previously operated by easyJet and is a similar configuration to the nine units that Allegiant had contracted for last summer.
"The market for used Airbus aircraft remains very attractive," said Andrew C. Levy, Allegiant President. "This aircraft is ideal in that it is an identical sister ship to the nine A319s we have committed to leasing, two of which are currently in service. This serves as another example of our commitment to acquire future growth with self-generated funds and still return cash to shareholders as evidenced by our board increasing our share repurchase authority to $100 million in late April 2013," concluded Levy.
The newly acquired A319 will be configured to 156 seats and is expected to begin service in the third quarter of 2013. This aircraft was purchased with cash, but Allegiant is currently evaluating debt financing options. As of today, the Company is expecting to finish the year with three A319s and 68 total aircraft. 2013 CAPEX of $160 to $170 million remains unchanged. The addition of this aircraft will not result in a material change to the Company's full year capacity guidance as outlined in its most recent earnings release.