July 27, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Allegiant Travel Co. (NASDAQ: ALGT), the parent company of Allegiant Air and Allegiant Vacations, said that its board has again increased the authority of the company to repurchase its shares. In January, the Allegiant board increased the remaining authority to $25 million.

The board has now increased this number to $50 million applicable to shares repurchased in 2010 or after. Through July 23, the company has repurchased 368,248 shares in 2010 at an average price of $49.42 per share for a total cost of $18.2 million, leaving $31.8 million of authority for future purchases.

Maurice J. Gallagher, Jr., Allegiant chairman and CEO, said, "We have had a share re-purchase program in place since early 2008 and with this new authority from our Board, we will continue to be able to opportunistically re-purchase our stock."

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

Through its subsidiary, Allegiant Air, the company 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.

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