Allegiant repays $210 million debt in 2023; $150 million repaid in Q4

By Devika Patel

Knoxville, Tenn., Feb. 6 – Allegiant Travel Co. prepaid over $200 million of 2024 debt maturities last year, with $150 million of that debt paid down in the fourth quarter.

“During the year, we prepaid approximately $210 million in 2024 debt maturities, including a $150 million payoff of senior secured notes in the fourth quarter,” senior vice president and chief financial officer Robert Neal said on the company’s fourth quarter and year ended Dec. 31 earnings conference call on Monday.

Total liquidity was $1.1 billion at year-end, comprising $870 million in cash and investments and $275 million in undrawn revolvers.

Cash and cash equivalents were $143.3 million as of Dec. 31, 2023, compared to $230 million as of Dec. 31, 2022.

Net debt at year-end was just under $1.4 billion.

Long-term debt and finance lease obligations, net of current maturities and related costs, were $1,819,700,000 as of Dec. 31, 2023, compared to $1,944,100,000 as of Dec. 31, 2022.

Current maturities of long-term debt and finance lease obligations, net of related costs, were $439.9 million as of Dec. 31, 2023, compared to $152.9 million as of Dec. 31, 2022.

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

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