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Allegiant Investors Punish Airline for Adding Boeing to Fleet

  • Airline says it ‘drove a heck of a deal’ on jet’s pricing
  • Deal relieves some pain for Boeing after recent misses
An Allegiant Airbus A319 at McCarran International Airport, Las Vegas
An Allegiant Airbus A319 at McCarran International Airport, Las VegasPhotographer: Robert Smith/MI News/NurPhoto/Getty Images
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Allegiant Airlines tumbled the most in 18 months after the carrier reversed its strategy of keeping costs in check by flying only Airbus SE planes, ordering 50 Boeing Co. 737 Max jets.

Under the deal, which has a total value approaching $2.5 billion, the airline will buy two versions of the Max to be delivered from 2023 through 2025, Allegiant Travel Co. said in a statement Wednesday. The carrier has options to purchase an additional 50 aircraft.