Las Vegas-based Allegiant Travel is buying four more used Airbus A320 jets.
The parent company of Allegiant Air said Tuesday that the planes are being used in Europe and will become part of the fleet in the second half of 2017.
A purchase price and the seller of the planes were not disclosed.
“We are active in the used Airbus A320 market and will engage in transactions that make economic sense for the company,” Jude Bricker, Allegiant’s senior vice president of planning, said in a statement on the acquisition. “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 25-cents-per-share recurring quarterly cash dividend and the $86 million remaining in our share repurchase authority.”
Allegiant already has seven of the twin-engine, 177-passenger planes. The company announced two years ago that it is upgrading with the Airbus, a more fuel-efficient aircraft than the MD-80 jets that comprise most of the Allegiant fleet.
The purchase will occur when planes are delivered and won’t have an impact on the company’s 2015 capital expenditures, projected at $175 million to $185 million.