May 25, 2010 (FinancialWire) — Allegiant Travel Company (NASDAQ: ALGT) said that it has decided to discontinue a private offering of senior unsecured notes that the company had announced last week.  In a statement, Allegiant cited “adverse market conditions” as the reason for the move.

On May 18, Allegiant Travel said it was offering $250 million of senior unsecured notes due 2017 to qualified institutional buyers. The notes were to be guaranteed by the company's current and future wholly-owned domestic subsidiaries.

The company said it planned to use the proceeds from the offering to pay for the balance of the purchase price and induction costs for MD 80 and Boeing 757 aircraft under contract, to make principal payments on existing debt payable in 2010 and 2011 and to utilize remaining proceeds for other asset acquisitions, mergers or acquisitions and general corporate purposes.

Nevada-based Allegiant Travel, through its Allegiant Air subsidiary, operates an all-jet passenger airline offering air travel both on a stand-alone basis and bundled with hotel rooms, rental cars and other travel related services.

The company is focused on linking travelers in small cities to leisure destinations such as Las Vegas, Phoenix, Fort Lauderdale, Florida, Orlando, Florida, Tampa/St. Petersburg, Florida and Los Angeles.

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