During the fourth quarter of 2024 the Allegiant Travel Company, through its wholly owned subsidiaries, received proceeds of approximately $293 million under debt facilities entered into between September 2023 and December 2024.
The debt carries interest at floating rates based on SOFR, with a portion of the debt maturing in December 2025. The remaining debt will be payable in instalments through to 2036.
All proceeds were used to refinance existing indebtedness, the company expected total debt balances to be $2.08 billion at the end of 2024.
Allegiant raised its fourth quarter 2024 guidance in December, citing stronger than expected bookings as a key driver.
The company's consolidated earnings per share (EPS) for the quarter is forecast to be $1.75-$2.25, raised up from previous estimates of $0.00-$1.00 EPS. In addition, airline-only EPS was raised to $2.50-$3.00, having previously been estimated to be around $0.50-$1.50 per share.