This week has seen Allegiant announce that they have secured funding for 11 aircraft, which include Airbus A320ceo & Boeing 737 MAX aircraft.
It is understood that this deal for 11 aircraft has been completed with BNP Paribas, valued at around $412m.
Without further ado, let’s get into it…
Allegiant Secures Funding For 11 Aircraft: A320ceo & 737MAX…
This $412m deal between Allegiant and BNP Paribas for the financing of 737 MAX and A320ceo aircraft will secure such options into the second quarter of next year.
Commenting on the deal was Robert Neal, the airline’s Senior VP & Chief Financial Officer:
“We are delighted with BNP Paribas and Jackson Square’s creativity in providing what we believe is an efficient framework that affords us robust liquidity to support foundational investments in our fleet.”
“This transaction taps into young A320 CEO aircraft and will also serve as the inaugural financing for our Boeing 737 MAX equipment”.
“Our relationship with BNP Paribas, spanning more than a decade, has been instrumental in our growth as an ultra-low-cost leader.”
“We are thrilled to welcome Jackson Square Aviation as a new partner as we make air travel more affordable and accessible to leisure travelers”.
Allegiant currently operates an all-Airbus fleet of 127 A319s and A320s. However, the financing for the 737 MAX is part of the deal signed with Boeing to purchase up to 130 Boeing 737 MAX 7 and MAX 200 aircraft.
As the airline begins its fleet renewal and replacement, all eyes are on them to see how the new aircraft type operates in their network of routes.
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