US-based theme park operator Six Flags Entertainment Corporation has announced a stock repurchase plan that allows the company to reacquire US$250m (€195m, £161m) worth of its stock by 2015.

The announcement comes just a year after the company announced its previous share buyback - a three-year, US$60m (€47m, £39m) plan that has largely been completed already.

According to a spokesperson, the deal was made possible due to an upturn in the US visitor attractions market throughout 2011. In October 2011 Six Flags reported that third-quarter earnings for 2011 were up 44 per cent on 2010 levels.

Six Flags CEO Jim Reid-Anderson said: "Our board of directors remains extremely confident in the company's future capabilities and, with the flexibility provided by our recent debt refinancing, we are in a unique position to further enhance shareholder value through a new share repurchase plan."

The theme park giant emerged from bankruptcy in May 2010 and the company is currently valued at around US$2.4bn on the New York Stock Exchange.