2-Sep-2010 11:04 AM

Allegiant Travel Company enters loan agreement to finance two B757s

Allegiant Travel Company announced (01-Sep-2010) it has entered into a loan agreement with Wells Fargo Equipment Finance, Inc under which it borrowed USD14 million secured to buy two B757 aircraft. The notes bear a fixed interest rate and will be amortised in monthly installments over 48 months. The company has guaranteed the debt. A portion of the proceeds of the loan were applied to pay off debt of approximately USD7.2 million secured by four MD-80 aircraft, which are now unencumbered. [more]