Allegiant Travel says it will record non-cash impairment charge of about $322m for 4Q, as carrying value of Sunseeker Resort is no longer fully recoverable.
- Charge will not impact cash flow, nor plans to continue operating the resort
- Will prepay outstanding debt, in its entirety, secured by the resort, withing coming weeks
- Repayment of debt and impairment charge are part of ongoing process of exploring strategic alternatives for the resort, including a potential sale or stake sale
- NOTE: July 2024,
Allegiant Taps Adviser to Explore Troubled Resort Options
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