Allegiant Travel subsidiaries get $84 million loans

By Rebecca Melvin

New York, Oct. 2 – Allegiant Travel Co., through its wholly owned subsidiaries, received proceeds of $84 million under loans secured by a discreet pool of CFM spare engines and A320 family aircraft, according to an 8-K filed with the Securities and Exchange Commission.

The loans will amortize over 72 months with minimal balloon payments due at maturity.

The proceeds from the transaction were used to cover capital expenditures and to repay $11.7 million under the company’s warehouse revolving credit facility.

Allegiant is a Las Vegas-based travel and hospitality company.

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