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Friday, March 29, 2024

PAL sells 2 aircraft to Allegiant

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Flag carrier Philippine Airlines has signed an agreement to sell two A320 aircraft to Las Vegas-based budget airline Allegiant Travel Co.

Allegiant said in a statement the aircraft were currently being operated by PAL and were scheduled to enter the Allegiant Air’s operating fleet toward the end of 2015.

“We continue to be successful in finding high-quality, used aircraft to support our future growth,” said Allegiant senior vice president of planning Jude Bricker.

“These A320s will have 177 seats in the same configuration as our current A320s. As with our other aircraft transactions, we are able to purchase these aircraft for cash. Our strong balance sheet allows us to both find aircraft to support future growth and return cash to shareholders through our previously announced recurring dividend and continuation of our existing share repurchase program,” Bricker said.

PAL has been undertaking a reflecting program to ensure profitability. Its refleeting program includes the acquisition of 38 new A321 aircraft by 2024. Two A321 aircraft are due for delivery in March.

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