Itasca MGA Provides Aircraft Finance Insurance Cover to Allegiant Air

HAMILTON, Bermuda, July 30, 2025 /PRNewswire/ -- Itasca MGA Limited ("Itasca MGA"), an aviation-focused managing general agent created by alternative investment manager Castlelake and Pine Walk Capital, a wholly owned subsidiary of The Fidelis Partnership, today announced it has structured a new insurance policy that supports an aircraft debt facility for Allegiant Air, LLC ("Allegiant") to finance the delivery of new 737 MAX 8-200 aircraft.   

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

The aircraft deliveries are part of Allegiant's announced strategy to directly own its fleet, enabling it to adapt quickly to changing economic conditions and enhance its fleet economics.

"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," said Allegiant CFO Robert Neal. "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."  

"Recognizing the need for customized 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," said Chris Buckley, Partner, Chief Commercial Officer at Castlelake. "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."

The aircraft are expected to be delivered by the third quarter of 2025.

About Itasca MGA
Itasca MGA is a managing general agent housed within the Pine Walk Group that specializes in underwriting, structuring and managing risk associated with secured commercial aviation financing on behalf of The Fidelis Partnership and Itasca Re Limited, a Bermuda-licensed reinsurance company established by Castlelake that specializes in insurance-backed financing solutions for buyers and owners of commercial aircraft assets. To support airline and lessor customers, Itasca MGA uses insurance capacity provided by Fidelis Insurance Ireland DAC, Fidelis Underwriting Limited and Lloyd's Syndicate 3123, alongside Starr Europe Insurance Limited and Starr Europe Insurance Limited with the latter two reinsured by Itasca Re. For more information, visit https://www.itascare.com/.

Media contact:
Itasca MGA
+1 612 851 3000

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SOURCE Itasca MGA