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.