Allegiant cash jumps 30% in Q1

Washington DC
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Allegiant Air saw its cash and cash equivalents jump 30% to $116.6 million during the first quarter, as it accepted two leased Airbus A319s from GE Capital Aviation Services (GECAS).

The increase comes after cash fell 8% during the fourth quarter of 2012. Cash balances were down 14.2% from $139.5 million at the end of March 2012.

Long-term debt and other liabilities net current maturities were down 2.2% to $136.1 million at the end of March since three months earlier. Debt was flat year-on-year.

Las Vegas-based Allegiant made $30,000 in lease payments in the quarter.

The carrier removed one Boeing MD-80 and placed one owned Boeing 757-200, as well as accepted the two A319s, during the quarter.