ALLEGIANT ANNOUNCES REPAYMENT OF ITS OBLIGATIONS UNDER THE CARES ACT PAYROLL SUPPORT PROGRAM

LAS VEGAS, Sept. 5, 2022 /PRNewswire/ — Allegiant (NASDAQ: ALGT) introduced it has repaid the $24.8 million greenback emergency aid mortgage the corporate acquired beneath the Coronavirus Support, Aid and Financial Safety (CARES) Act in April 2020.

The federal government help, coupled with proactive initiatives from Allegiant and its staff, allowed the airline to protect liquidity and strategically place itself to face up to the uncertainty surrounding the outbreak of COVID-19. Allegiant’s distinctive enterprise mannequin, targeted totally on leisure journey, helped the corporate reply to the unprecedented challenges that your complete airline {industry} confronted when demand for air journey dropped so all of the sudden and precipitously in 2020, because of the worldwide pandemic.

The CARES Act, signed into regulation in April 2020, established the Payroll Assist Program to offer help to U.S. corporations that had been impacted by the worldwide pandemic. The funds helped Allegiant assist the airline’s worker salaries and advantages.

“We’re so grateful to the federal authorities and the American folks for stepping up and aiding your complete {industry} when the outlook for the longer term was so unsure,” mentioned Allegiant’s CEO John Redmond. “This mortgage helped us save jobs at a time when it wasn’t clear how the U.S. would emerge from the pandemic. We’re thrilled that demand has elevated a lot in latest months that we had been capable of fulfill our obligation a lot sooner than we initially anticipated.”

Allegiant – Collectively We Fly^TM

Las Vegas-based Allegiant (NASDAQ: ALGT) is an built-in journey firm with an airline at its coronary heart, targeted on connecting clients with the folks, locations and experiences that matter most. Since 1999, Allegiant Air has linked vacationers in small-to-medium cities to world-class trip locations with all-nonstop flights and industry-low common fares. At present, Allegiant’s fleet serves communities throughout the nation, with base airfares lower than half the price of the common home roundtrip ticket. For extra data, go to us at Allegiant.com. Media data, together with photographs, is on the market at http://gofly.us/iiFa303wrtF

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SOURCE Allegiant Journey Firm