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Benzinga
Benzinga
Business
Akanksha Bakshi

Allegiant To Buy Boeing Aircraft For The First Time, Orders 50 New 737 Aircraft

  • Allegiant Travel Co (NASDAQ:ALGT) inked an agreement with Boeing Co (NYSE:BA) to purchase 50 new 737 MAX aircraft. Financial terms not disclosed.
  • The deal marks Boeing's first deal with Allegiant, which currently operates 108 Airbus SE (OTC:EADSF) A319s and A320s.
  • The multi-year deal includes purchasing 737-7 and 737-8-200 models selected by Allegiant and an option to buy 50 additional aircraft. 
  • Allegiant will take delivery of an initial group of planes in 2023, with the remaining deliveries scheduled throughout 2024 and 2025.
  • This arrangement with Boeing allows Allegiant to replace aircraft scheduled to retire while also expanding the fleet.
  • Price Action: ALGT shares are trading lower by 4.88% at $183.75 and BA higher by 1.98% at $217.88 on the last check Wednesday.
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