Itasca MGA Limited, an aviation-focused managing general agent (MGA), has structured a new insurance policy to support an aircraft debt facility for Allegiant Air, LLC, helping finance the delivery of new 737 MAX 8-200 aircraft.

The aircraft deliveries align with Allegiant’s strategy to directly own its fleet, allowing it to better adapt to changing economic conditions and improve fleet economics. The aircraft are expected to be delivered by Q3’25.

Gareth John, CEO of Itasca MGA, said, “The Itasca team is happy to provide a customised insurance solution to Allegiant as it seeks to expand its fleet with additional Boeing MAX aircraft.

“We believe this transaction demonstrates how Itasca’s product can complement airlines’ fleet strategies by enabling them to attract what we see as more efficient financing and we’re excited to see Allegiant advance its goals with our support.”

Robert Neal, CFO of Allegiant, commented, “We are excited to add these brand-new 737 MAX 8-200 aircraft to our fleet with the support of Itasca’s competitive insurance solution, supporting our overall cost of ownership.

“The operational performance of these aircraft coupled with a strategy to own our fleet enhances the strength and flexibility that allows Allegiant to continue delivering reliable, nonstop service at unbeatable value.”

Chris Buckley, Partner, Chief Commercial Officer at Castlelake, added, “Recognising the need for customised solutions in a highly competitive aviation financing market, we established Itasca with Pine Walk Capital to offer tailored insurance financing to buyers and owners of commercial aircraft assets.

“We’re pleased to see domestic and global airlines partner with Itasca to advance their business goals and look forward to watching long-term relationships develop.”