Allegiant Travel Co. (ALGT) said Friday that it has signed a forward purchase agreement to buy six Boeing 757-200 aircraft.
The introduction of the 757 aircraft will enable Allegiant to expand its leisure travel strategy into Hawaii with flights to be operated by Allegiant Air, LLC, its airline subsidiary.
The six 757 aircraft are sister-ships and have been in service with a single European operator since original delivery from Boeing.
Allegiant said it expects to spend between $75 to 90 million through 2012 acquiring and preparing the fleet for service.
Allegiant noted that althouh it is able to acquire and prepare the aircraft for cash, it believes it will finance some portion of the purchase.
Allegiant Air currently operates 46 MD-80 aircraft and the 757 program will not affect its MD-80 growth plans. Allegiant expects to have 54 aircraft in service by the end of 2010 - 52 MD-80 aircraft and two 757 aircraft.
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