ALGT - Allegiant secures financing for Airbus A320 and Boeing 737 Max aircraft
2023-10-03 09:16:06 ET
- Allegiant Travel ( NASDAQ: ALGT ) Tuesday reported financing commitments for seven Airbus A320 and four Boeing 737 MAX aircraft from BNP Paribas, and Jackson Square Aviation.
- The $412M deal combines banking and lessor capital to secure Allegiant's aircraft financing needs into the second quarter 2024, while providing the airline with healthy liquidity at an attractive cost in today's market.
- Allegiant has drawn down $196 million on September 29, and the remainder will be drawn commensurate with its initial 737 MAX deliveries.
- Allegiant has agreed to purchase up to 130 Boeing 737-7 and 737-8-200 models in a multi-year deal, Boeing's first with an ultra-low-cost carrier in the United States.
- ALGT +5.07% premarket to $79.1
- Source: Press Release
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Allegiant secures financing for Airbus A320 and Boeing 737 Max aircraft