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Allegiant Airlines - Research Paper Example

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Allegiant Airlines
The company came into existence in January, 1997 when its founders, Mitch Allee, Jim Patterson, and, Capt. Dave Beadle agreed on the partnership details outlined by the necessary contracts needed when starting a business. Mitch served in the capacity of the CEO whereas Patterson served as president of the company…
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Download file to see previous pages Finally, Capt. Dave served in the capacity of Chief Pilot. In 1998, the company got FAA and Department of Transportation (DOT) Certification. This officially allowed them to operate charter and scheduled flights locally within the USA and also included international destinations like Canada and Mexico (Company, 2007).
Allegiant Travel Co. retained sole ownership of Allegiant Airline until December, 2000 when changes in the ownership structure occurred. These changes proved to be necessary especially with the company’s failure to generate enough revenue to stay afloat. As a result, the company had to file for Chapter 11 Bankruptcy protection in 2000 and ownership shifted to Maurice J. Gallagher, Jr. during the reorganization phase. Gallagher used his prior knowledge acquired while working with other esteemed Airlines to transform Allegiant Airline into its current form. He did this by changing the company’s market target to smaller entrepreneurs in need of chartered and scheduled services neglected by larger airlines. To this date, the company boasts over 1,800 employees working all around the world (Company, 2007). The company’s headquarters are in Enterprise, Nevada. Gallagher is also responsible for shifting the company’s headquarters from the airline’s initial hub located in Fresno, California to Enterprise, Nevada in June, 2001 (Wheelen, 2011). The new restructured company model cut down the company’s operation costs and catered for the untapped market consisting of small-scale entrepreneurs. The fact that Gallagher was the main creditor of the previously bankrupt Allegiant Airline meant that the company’s previous debts could officially be written off. This would give the company a fresh start. This allowed for Allegiant Airline to generate revenue allowing it to settle the remaining debts with its creditors. Gallagher remained CEO and guided the company through the entire processes carried out with the aim of exiting bankruptcy. His hard work finally paid off in March, 2002 when the company successfully emerged from its bankrupt state. As a result, Gallagher signed a long-term contract with Harrah’s providing charter services to Harrah’s casinos. This allowed for the company to venture into other prospects, which would allow the company to diversify the services it provided. Allegiant, therefore, begun to provide air and hotel packages to its clients (Airline, 2012). Initially, Allegiant Airline was a privately owned company. However, in November, 2006, the company decided to publically offer its Common Stock under the ticker symbol ‘ALGT’. Throughout the years, Allegiant Airline continually expands by branching out into other focus cities, for example, Florida, Los Angeles, and, Washington among others. In addition, the company continually provides exceptional services to its clients just as it did before, in its headquarters, in Nevada. Throughout the years, Allegiant Company continues to prove to other companies how proper management is an integral part in the achievement of success within any organization (Company, 2007). Allegiant’s mission statement seeks to provide affordable flight charges to individuals operating on a small scale level. This occurs via the provision of travelling opportunities to ...Download file to see next pagesRead More
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