February 2, 2010 (FinancialWire) — Allegiant Travel Co. (NASDAQ: ALGT), the parent company of Allegiant Air and Allegiant Vacations, said that its board of directors has approved increased authority under its existing common stock repurchase program.

Allegiant’s current common share repurchase program was first approved by Allegiant’s board in January 2009 with repurchase authority of $25 million. The board increased this authority by $10 million in July 2009. As of January 1, 2010, remaining repurchase authority under this program was $10.4 million. On January 29, 2010, Allegiant’s board increased remaining authority under the program to $25 million effective January 1, 2010, an increase of $14.6 million.

Under the current repurchase program, Allegiant spent $24.4 million in open market transactions during 2009, repurchasing a total of 637,902 shares at an average price of $38.26 per share.

Las Vegas-based Allegiant Travel is focused on linking travelers in small cities to major leisure destinations such as Las Vegas, Orlando, Fla., Tampa/St. Petersburg, Fla., Phoenix-Mesa, Los Angeles and Fort Lauderdale, Fla.

Through its subsidiary, Allegiant Air, the company operates a passenger airline offering air travel both on a stand-alone basis and bundled with hotel rooms, rental cars and other travel related services.

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