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ALLEGIANT TRAVEL COMPANY THIRD QUARTER 2025 FINANCIAL RESULTS
Third quarter 2025 GAAP diluted loss per share of $(2.41)
Third quarter 2025 adjusted airline-only loss per share of $(1.64)(1)(2)
Third quarter 2025 adjusted loss per share of $(2.09)(1)(2)
LAS VEGAS, Nov. 4, 2025 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported the below financial results for third quarter 2025, as well as comparisons to the prior year.
"The airline has always been Allegiant's central focus, and I'm proud of how Team Allegiant continues to execute at a high level," stated Gregory Anderson, chief executive officer of Allegiant Travel Company. "At an airline, everything begins and ends with running a safe and reliable operation. Impressively, we maintained our industry-leading controllable completion factor of 99.9 percent during the quarter while flying nearly 33,000 departures and transporting 4.6 million passengers - both marking third-quarter records.
"Our outstanding operational performance is reinforced by our customers, as our net promoter scores are near all-time highs, reaffirming the loyalty and strength of our brand. This is further evidenced by our recognition — for the seventh consecutive year — in USA Today's Readers' Choice Awards for Best Airline Credit Card, and for the second consecutive year as Best Frequent Flyer Program.
"During the third quarter, which is our seasonally weakest quarter of the year, steady booking improvements led to a moderate operating loss, but at the favorable end of our guided range. Our focus on cost discipline was highlighted again this quarter, with CASM excluding fuel down 4.7 percent over the prior year. Year-to-date, the team has achieved an adjusted CASM, excluding fuel decrease of nearly seven percent.
"Turning toward the fourth quarter, leisure booking momentum has continued, with holiday demand shaping up nicely. We now expect a double-digit fourth-quarter operating margin, yielding a full-year airline-only operating margin of around seven percent. As a result, we're raising our airline-only full-year EPS guidance to more than $4.35 per share.
"Throughout 2025, the team has executed very well on our key initiatives, which include restoring peak utilization, expanding the rollout of our Allegiant Extra premium product, further integrating our MAX aircraft - ending the year with 16 in service - and realizing benefits from our Navitaire enhancements. Combined with disciplined cost control, these factors position us well for margin expansion and long-term value creation.
"I want to thank our entire team for their hard work and dedication, which have meaningfully strengthened our foundation as the leading leisure carrier in the U.S. Developing top talent is key to sustained value creation, and I am therefore pleased to announce the promotion of Robert "BJ" Neal to president, where he will continue to serve as chief financial officer. Over his 18 years at Allegiant, serving in various roles, BJ's leadership has been instrumental in our success. His strategic and operational expertise will be vital as we continue strengthening and growing our core airline business."
| Summary Results | |||||
| | |||||
| Consolidated | Three Months Ended September 30, | | Percent Change | ||
| (unaudited) (in millions, except per share amounts) | 2025 | | 2024 | | YoY |
| Total operating revenue | $ 561.9 | | $ 562.2 | | (0.1) % |
| Total operating expense | 589.1 | | 588.5 | | 0.1 % |
| Operating loss | (27.2) | | (26.3) | | (3.4) % |
| Loss before income taxes | (52.2) | | (43.4) | | (20.3) % |
| Net loss | (43.6) | | (36.8) | | (18.5) % |
| Diluted loss per share | (2.41) | | (2.05) | | (17.6) % |
| Sunseeker special charges, net(2) | 0.6 | | 1.1 | | (45.5) % |
| Airline special charges(2) | 2.9 | | 7.7 | | (62.3) % |
| Adjusted loss before income taxes(1)(2)(3) | (47.6) | | (34.7) | | (37.2) % |
| Adjusted net loss(1)(2)(3) | (37.7) | | (36.1) | | (4.4) % |
| Adjusted diluted loss per share(1)(2)(3) | (2.09) | | (2.02) | | (3.5) % |
| | |||||
| Airline only | Three Months Ended September 30, | | Percent Change(4) | ||
| (unaudited) (in millions, except per share amounts) | 2025 | | 2024 | | YoY |
| Airline operating revenue | $ 552.6 | | $ 549.1 | | 0.6 % |
| Airline operating expense | 572.8 | | 556.2 | | 3.0 % |
| Airline operating loss | (20.2) | | (7.0) | | NM |
| Airline loss before income taxes | (41.2) | | (18.6) | | NM |
| Airline special charges(2) | 2.9 | | 7.7 | | (62.3) % |
| Adjusted airline-only net loss(1)(2)(3) | (29.5) | | (8.8) | | NM |
| Adjusted airline-only operating margin(1)(2) | (3.1) % | | 0.1 % | | (3.2) |
| Adjusted airline-only diluted loss per share(1)(2)(3) | (1.64) | | (0.49) | | NM |
| | |||||
| Consolidated | Nine Months Ended September 30, | | Percent Change | ||
| (unaudited) (in millions, except per share amounts) | 2025 | | 2024 | | YoY |
| Total operating revenue | $ 1,950.4 | | $ 1,884.9 | | 3.5 % |
| Total operating expense | 1,980.1 | | 1,860.9 | | 6.4 % |
| Operating income (loss) | (29.7) | | 24.0 | | NM |
| Loss before income taxes | (98.8) | | (26.8) | | NM |
| Net loss | (76.6) | | (24.0) | | NM |
| Diluted loss per share | (4.26) | | (1.38) | | NM |
| Sunseeker special charges, net(2) | 100.9 | | (2.6) | | NM |
| Airline special charges(2) | 18.9 | | 42.6 | | (55.6) % |
| Adjusted income before income taxes(1)(2)(3) | 25.6 | | 13.2 | | 93.9 % |
| Adjusted net income(1)(2)(3) | 18.4 | | 6.8 | | NM |
| Adjusted diluted earnings per share(1)(2)(3) | 1.00 | | 0.35 | | NM |
| | |||||
| Airline only | Nine Months Ended September 30, | | Percent Change(4) | ||
| (unaudited) (in millions, except per share amounts) | 2025 | | 2024 | | YoY |
| Airline operating revenue | $ 1,889.7 | | $ 1,831.1 | | 3.2 % |
| Airline operating expense | 1,805.9 | | 1,767.0 | | 2.2 % |
| Airline operating income | 83.8 | | 64.1 | | 30.7 % |
| Airline income before income taxes | 38.2 | | 29.4 | | 29.9 % |
| Airline special charges(2) | 18.9 | | 42.6 | | (55.6) % |
| Adjusted airline-only net income(1)(2)(3) | 43.7 | | 51.9 | | (15.8) % |
| Adjusted airline-only operating margin(1)(2) | 5.4 % | | 5.8 % | | (0.4) |
| Adjusted airline-only diluted earnings per share(1)(2)(3) | 2.37 | | 2.83 | | (16.3) % |
| | |
| (1) | Denotes a non-GAAP financial measure. Refer to the Non-GAAP Presentation section within this document for further information and for calculation of per share figures. |
| (2) | In 2025 and 2024, we recognized certain expenses as special charges related to Airline activities (including accelerated depreciation on airframes identified for early retirement, ratification bonuses, and corporate restructuring costs), the sale of Sunseeker Resort and Aileron Golf Course, and weather-related damages at Sunseeker Resort (net of recoveries). For a listing of these charges, see the special charges table in Appendix A of this earnings release. The adjusted numbers in this earnings release exclude the effect of these special charges. |
| (3) | In 2025, the Company incurred losses on debt extinguishment related to prepayment of debt facilities. These are added back in the adjusted results where applicable. |
| (4) | Except adjusted airline-only operating margin which is percentage point change. |
| NM | Not meaningful |
| * | Note that amounts may not recalculate due to rounding |
Third Quarter 2025 Results and Highlights
- Total consolidated operating revenue of $561.9M, flat over the prior year
- Adjusted consolidated operating loss,(1)(2) of $23.7M, yielding an adjusted operating margin of (4.2) percent
- Adjusted airline-only operating loss,(1)(2) of $17.3M, yielding an adjusted airline-only operating margin of (3.1) percent
- Adjusted consolidated loss before income tax,(1)(2)(3)of $47.6M, yielding an adjusted pre-tax margin of (8.5) percent
- Adjusted airline-only loss before income tax,(1)(2)(3) of $37.1M, yielding an adjusted airline-only pre-tax margin of (6.7) percent
- Adjusted consolidated EBITDA,(1)(2) of $35.1M, yielding an adjusted EBITDA margin of 6.2 percent
- Adjusted airline-only EBITDA,(1)(2) of $41.5M, yielding an adjusted airline-only EBITDA margin of 7.5 percent
- Adjusted airline-only operating CASM, excluding fuel(2)of 8.47 ¢, down 4.7 percent year-over-year
- $34.0M in total cobrand credit card remuneration received from Bank of America, bringing year-to-date remuneration to $103.4M
- Ended the quarter with 21M total active Allways Rewards members
- Named Best Airline Credit Card by USA TODAY's Readers' Choice Awards for the seventh consecutive year and Best Frequent Flyer Program by USA TODAY's Readers' Choice Awards for the second consecutive year
- During the third quarter, expanded the network by announcing 12 new nonstop routes and two new cities, Atlantic City and Burbank
Balance Sheet, Cash and Liquidity
- Total available liquidity at September 30, 2025 was $1.2B, which included $991.2M in cash and investments, and $175.0M in undrawn revolving credit facilities
- $4.8M cash used in operations during third quarter 2025, with year-to-date cash from operations of $277.6M
- Total debt at September 30, 2025 was $2.1B
- Net debt at September 30, 2025 was $1.1B
- Debt principal payments of $214.6M during the quarter, including $181.3M in voluntary prepayments
- During October, repaid $120.0 million of senior secured notes due August 2027 under a call feature exercised on September 15, 2025
- Debt proceeds of $307.0M during the quarter, net of issuance costs
- Air traffic liability at September 30, 2025 was $388.3M
Airline Capital Expenditures
- Third quarter capital expenditures of $129.3M, which included $107.4M for aircraft-related capital expenditures and $21.9M in other airline capital expenditures
- Third quarter deferred heavy maintenance expenditures were $10.6M
Sunseeker Resort Charlotte Harbor
- Closed on the sale of Sunseeker Resort on September 4, 2025 at a $200 million sale price (subject to certain adjustments)
| (1) | Denotes a non-GAAP financial measure. Refer to the Non-GAAP Presentation section within this document for further information and for calculation of per share figures. |
| (2) | In 2025 and 2024, we recognized certain expenses as special charges related to Airline activities (including accelerated depreciation on airframes identified for early retirement, ratification bonuses, and corporate restructuring costs), the sale of Sunseeker Resort and Aileron Golf Course, and weather-related damages at Sunseeker Resort (net of recoveries). For a listing of these charges, see the special charges table in Appendix A of this earnings release. The adjusted numbers in this earnings release exclude the effect of these special charges. |
| (3) | In 2025, the Company incurred losses on debt extinguishment related to prepayments made on several debt facilities. These are added back in the adjusted results where applicable. |
Guidance, subject to revision
Certain forward-looking financial information in the following tables is not presented in accordance with accounting principles generally accepted in the U.S. ("GAAP"). Non-GAAP financial figures may be useful to stakeholders, but should not be considered a substitute for GAAP figures. In reliance on the 'unreasonable efforts' exception in Item 10(e)(1)(i)(B) of SEC Regulation S-K, a reconciliation to the most comparable GAAP financial measure is not provided for adjusted airline-only earnings per share, adjusted consolidated earnings per share, and adjusted airline-only operating margin. The Company is not able to reconcile these Non-GAAP financial figures without unreasonable effort because the special charge adjustments will not be known until the end of the indicated future periods and any range of projected values would be too broad to be meaningful. As a result, this information would not be significant to investors.
| Fourth quarter 2025 guidance (1) | | | |
| | | | |
| System ASMs - year over year change | | | ~9.5% |
| Scheduled service ASMs - year over year change | | | ~10.0% |
| | | | |
| Fuel cost per gallon | | | $ 2.55 |
| Adjusted operating margin (1) (2) | | | 10.0% to 12.0% |
| Adjusted earnings per share (1)(2) | | | $1.50 to $2.50 |
| | | | |
| Full-year 2025 guidance | | | |
| | | | |
| System ASMs - year over year change | | | ~12.5% |
| Scheduled service ASMs - year over year change | | | ~13.0% |
| | | | |
| Fuel cost per gallon | | | ~$2.55 |
| Adjusted airline-only earnings per share(2) | | | > $4.35 |
| | | | |
| Adjusted consolidated earnings per share(2) | | | > $3.00 |
| | | | |
| Interest expense(3) (millions) | | | $135 to $145 |
| Capitalized interest(4) (millions) | | | ($15) to ($25) |
| Interest income (millions) | | | $35 to $45 |
| | | | |
| Airline full-year CAPEX | | | |
| Aircraft-related capital expenditures(5) (millions) | | | $260 to $280 |
| Capitalized deferred heavy maintenance (millions) | | | $50 to $70 |
| Other airline capital expenditures (millions) | | | $95 to $115 |
| | | | |
| Recurring principal payments(6) (millions) (full year) | | | $140 to $150 |
| | |
| (1) | Fourth quarter 2025 guidance metrics reflect airline-only results. Given the sale of Sunseeker during the third quarter, these figures are equivalent to consolidated results for the period. When comparing to prior quarters, the most meaningful comparison is to airline-only metrics. |
| (2) | Denotes a non-GAAP financial measure for which no reconciliation to GAAP is provided as described above. |
| (3) | Includes consolidated gross interest expense attributable to both the airline segment and the Sunseeker Resort segment |
| (4) | Includes capitalized interest related to pre-delivery deposits on new aircraft. |
| (5) | Aircraft-related capital expenditures include the purchase of aircraft, engines, induction costs, and pre-delivery deposits. This amount excludes capitalized interest related to pre-delivery deposits on new aircraft. |
| (6) | Does not include repayment of pre-delivery deposit debt facilities due on delivery of aircraft |
Aircraft Fleet Plan by End of Period
| Aircraft - (seats per AC) | 3Q25 | YE25 |
| Boeing 737-8200 (190 seats) | 10 | 16 |
| Airbus A320 (180 seats) | 73 | 71 |
| Airbus A320 (186 seats) | 1 | — |
| Airbus A320 (177 seats) | 8 | 8 |
| Airbus A319 (156 seats) | 29 | 28 |
| Total | 121 | 123 |
The table above is management's best estimate and is provided based on the Company's current plans and is subject to change. The numbers include aircraft expected to be in service at the end of each period and exclude both aircraft that we expect to take delivery of but not to be placed in service until a subsequent period as well as aircraft in temporary storage.
Allegiant Travel Company will host a conference call with analysts at 4:30 p.m. ET Tuesday, November 4, 2025 to discuss its third quarter financial results. A live broadcast of the conference call will be available via the Company's Investor Relations website homepage at http://ir.allegiantair.com. The webcast will also be archived in the "Events & Presentations" section of the website.
Allegiant Travel Company
Las Vegas-based Allegiant (NASDAQ: ALGT) is an integrated travel company with an airline at its heart, focused on connecting customers with the people, places and experiences that matter most. Since 1999, Allegiant Air has linked travelers in underserved cities to world-class vacation destinations with all-nonstop flights and industry-low average fares. Today, Allegiant serves communities across the nation, with base airfares less than half the cost of the average domestic round trip ticket. For more information, visit us at Allegiant.com. Media information, including photos, is available at http://gofly.us/iiFa303wrtF.
Media Inquiries: mediarelations@allegiantair.com
Investor Inquiries: ir@allegiantair.com
Under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, statements in this press release that are not historical facts are forward-looking statements. These forward-looking statements are only estimates or predictions based on our management's beliefs and assumptions and on information currently available to our management. Forward-looking statements include our statements regarding future airline operations, revenue, expenses and earnings, available seat mile growth, expected capital expenditures, the cost of fuel, the timing of aircraft acquisitions and retirements, the number of contracted aircraft to be placed in service in the future, our ability to consummate announced aircraft transactions, estimated tax rate, as well as other information concerning future results of operations, business strategies, financing plans, industry environment and potential growth opportunities. Forward-looking statements include all statements that are not historical facts and can be identified by the use of forward-looking terminology such as the words "believe," "expect," "guidance," "anticipate," "intend," "plan," "estimate", "project", "hope" or similar expressions.
Forward-looking statements involve risks, uncertainties and assumptions. Actual results may differ materially from those expressed in the forward-looking statements. Important risk factors that could cause our results to differ materially from those expressed in the forward-looking statements generally may be found in our periodic reports filed with the Securities and Exchange Commission at www.sec.gov. These risk factors include, without limitation, regulatory reviews of, and production limits on, Boeing impacting our aircraft delivery schedule, an accident involving, or problems with, our aircraft, public perception of our safety, our reliance on our automated systems, our reliance on Boeing to deliver aircraft under contract to us on a timely basis, risk of breach of security of personal data, volatility of fuel costs, labor issues and costs, the ability to obtain regulatory approvals as needed , the effect of economic conditions on leisure travel, debt covenants and balances, the impact of government regulations on the airline industry, the ability to finance aircraft to be acquired, the ability to obtain necessary government approvals to implement the announced alliance with Viva Aerobus and to otherwise prepare to offer international service, terrorist attacks, risks inherent to airlines, our competitive environment, our reliance on third parties who provide facilities or services to us, the impact of the possible loss of key personnel, economic and other conditions in markets in which we operate, increases in maintenance costs and availability of outside maintenance contractors to perform needed work on our aircraft on a timely basis and at acceptable rates, cyclical and seasonal fluctuations in our operating results, and the perceived acceptability of our environmental, social and governance efforts.
Any forward-looking statements are based on information available to us today and we undertake no obligation to update publicly any forward-looking statements, whether as a result of future events, new information or otherwise.
Detailed financial information follows:
| Allegiant Travel Company Consolidated Statements of Income (in thousands, except per share amounts) (Unaudited) | |||||
| | |||||
| | Three Months Ended September 30, | | Percent Change | ||
| | 2025 | | 2024 | | YoY |
| OPERATING REVENUES: | | | | | |
| Passenger | $ 494,144 | | $ 488,989 | | 1.1 % |
| Third party products | 39,397 | | 39,423 | | (0.1) |
| Fixed fee contracts | 18,852 | | 20,559 | | (8.3) |
| Resort and other | 9,539 | | 13,225 | | (27.9) |
| Total operating revenues | 561,932 | | 562,196 | | — |
| OPERATING EXPENSES: | | | | | |
| Salaries and benefits | 196,394 | | 195,326 | | 0.5 |
| Aircraft fuel | 151,254 | | 148,241 | | 2.0 |
| Station operations | 71,390 | | 70,632 | | 1.1 |
| Depreciation and amortization | 58,952 | | 63,918 | | (7.8) |
| Maintenance and repairs | 39,908 | | 30,278 | | 31.8 |
| Sales and marketing | 23,040 | | 24,869 | | (7.4) |
| Aircraft lease rentals | 11,096 | | 5,920 | | 87.4 |
| Other | 33,615 | | 40,563 | | (17.1) |
| Special charges, net of recoveries | 3,473 | | 8,790 | | (60.5) |
| Total operating expenses | 589,122 | | 588,537 | | 0.1 |
| OPERATING LOSS | (27,190) | | (26,341) | | (3.2) |
| OTHER (INCOME) EXPENSES: | | | | | |
| Interest income | (10,108) | | (10,071) | | 0.4 |
| Interest expense | 38,116 | | 39,065 | | (2.4) |
| Capitalized interest | (3,166) | | (11,923) | | (73.4) |
| Other, net | 122 | | 30 | | NM |
| Total other expenses | 24,964 | | 17,101 | | 46.0 |
| LOSS BEFORE INCOME TAXES | (52,154) | | (43,442) | | (20.1) |
| INCOME TAX BENEFIT | (8,580) | | (6,653) | | (29.0) |
| NET LOSS | $ (43,574) | | $ (36,789) | | (18.4) |
| Loss per share to common shareholders: | | | | | |
| Basic | ($2.41) | | ($2.05) | | (17.6) |
| Diluted | ($2.41) | | ($2.05) | | (17.6) |
| Shares used for computation(1): | | | | | |
| Basic | 18,050 | | 17,913 | | 0.8 |
| Diluted | 18,050 | | 17,913 | | 0.8 |
| | |
| (1) | The Company's unvested restricted stock awards are considered participating securities as they receive non-forfeitable rights to cash dividends at the same rate as common stock. The basic and diluted earnings per share calculations for the periods presented reflect the two-class method mandated by ASC Topic 260, "Earnings Per Share." The two-class method adjusts both the net income and the shares used in the calculation. Application of the two-class method did not have a significant impact on the basic and diluted earnings per share for the periods presented. |
| NM | Not meaningful |
| Allegiant Travel Company Segment Profit or Loss (in thousands) (Unaudited) | |||||||||||
| | |||||||||||
| | Three Months Ended September 30, 2025 | | Three Months Ended September 30, 2024 | ||||||||
| | Airline | | Sunseeker | | Consolidated | | Airline | | Sunseeker | | Consolidated |
| REVENUES FROM EXTERNAL CUSTOMERS | $ 552,574 | | $ 9,358 | | $ 561,932 | | $ 549,127 | | $ 13,069 | | $ 562,196 |
| OPERATING EXPENSES: | | | | | | | | | | | |
| Salaries and benefits | 190,491 | | 5,903 | | 196,394 | | 183,849 | | 11,477 | | 195,326 |
| Aircraft fuel | 151,254 | | — | | 151,254 | | 148,241 | | — | | 148,241 |
| Station operations | 71,390 | | — | | 71,390 | | 70,632 | | — | | 70,632 |
| Depreciation and amortization | 58,952 | | — | | 58,952 | | 56,025 | | 7,893 | | 63,918 |
| Maintenance and repairs | 39,908 | | — | | 39,908 | | 30,278 | | — | | 30,278 |
| Sales and marketing | 22,093 | | 947 | | 23,040 | | 23,370 | | 1,499 | | 24,869 |
| Aircraft lease rentals | 11,096 | | — | | 11,096 | | 5,920 | | — | | 5,920 |
| Other operating expenses | 24,684 | | 8,931 | | 33,615 | | 30,187 | | 10,376 | | 40,563 |
| Special charges, net of recoveries | 2,907 | | 566 | | 3,473 | | 7,651 | | 1,139 | | 8,790 |
| Total operating expenses | 572,775 | | 16,347 | | 589,122 | | 556,153 | | 32,384 | | 588,537 |
| OPERATING LOSS | (20,201) | | (6,989) | | (27,190) | | (7,026) | | (19,315) | | (26,341) |
| OTHER (INCOME) EXPENSES: | | | | | | | | | | | |
| Interest income | (10,108) | | — | | (10,108) | | (10,071) | | — | | (10,071) |
| Interest expense | 34,120 | | 3,996 | | 38,116 | | 33,582 | | 5,483 | | 39,065 |
| Capitalized interest | (3,166) | | — | | (3,166) | | (11,923) | | — | | (11,923) |
| Other non-operating expenses | 122 | | — | | 122 | | 30 | | — | | 30 |
| Total other expenses | 20,968 | | 3,996 | | 24,964 | | 11,618 | | 5,483 | | 17,101 |
| LOSS BEFORE INCOME TAXES | $ (41,169) | | $ (10,985) | | $ (52,154) | | $ (18,644) | | $ (24,798) | | $ (43,442) |
| Allegiant Travel Company Airline Operating Statistics (Unaudited) | |||||
| | |||||
| | Three Months Ended September 30, | | Percent | ||
| | 2025 | | 2024 | | YoY |
| AIRLINE OPERATING STATISTICS | | | | | |
| Total system statistics: | | | | | |
| Passengers | 4,629,834 | | 4,256,249 | | 8.8 % |
| Available seat miles (ASMs) (thousands) | 4,939,441 | | 4,501,532 | | 9.7 |
| Airline operating expense per ASM (CASM) (cents) | 11.59 ¢ | | 12.35 ¢ | | (6.2) |
| Fuel expense per ASM (cents) | 3.06 ¢ | | 3.29 ¢ | | (7.0) |
| Airline special charges per ASM (cents) | 0.06 ¢ | | 0.17 ¢ | | (64.7) |
| Airline operating CASM, excluding fuel and special charges (cents) | 8.47 ¢ | | 8.89 ¢ | | (4.7) |
| Departures | 32,991 | | 29,884 | | 10.4 |
| Block hours | 75,466 | | 68,453 | | 10.2 |
| Average stage length (miles) | 850 | | 856 | | (0.7) |
| Average number of operating aircraft during period | 123.7 | | 124.1 | | (0.3) |
| Average block hours per aircraft per day | 6.6 | | 6.0 | | 10.0 |
| Full-time equivalent employees at end of period | 5,871 | | 5,827 | | 0.8 |
| Fuel gallons consumed (thousands) | 59,015 | | 55,190 | | 6.9 |
| ASMs per gallon of fuel | 83.7 | | 81.6 | | 2.6 |
| Average fuel cost per gallon | $ 2.56 | | $ 2.69 | | (4.8) |
| Scheduled service statistics: | | | | | |
| Passengers | 4,572,081 | | 4,195,572 | | 9.0 |
| Revenue passenger miles (RPMs) (thousands) | 4,022,761 | | 3,701,747 | | 8.7 |
| Available seat miles (ASMs) (thousands) | 4,769,245 | | 4,326,870 | | 10.2 |
| Load factor | 84.3 % | | 85.6 % | | (1.3) |
| Departures | 31,656 | | 28,519 | | 11.0 |
| Block hours | 72,726 | | 65,656 | | 10.8 |
| Average seats per departure | 175.6 | | 175.9 | | (0.2) |
| Yield (cents)(2) | 4.94 ¢ | | 5.88 ¢ | | (16.0) |
| Total passenger revenue per ASM (TRASM) (cents)(3) | 11.19 ¢ | | 12.21 ¢ | | (8.4) |
| Average fare - scheduled service(4) | $ 43.44 | | $ 51.92 | | (16.3) |
| Average fare - air-related charges(4) | $ 64.64 | | $ 64.63 | | — |
| Average fare - third party products | $ 8.62 | | $ 9.40 | | (8.3) |
| Average fare - total | $ 116.70 | | $ 125.95 | | (7.3) |
| Average stage length (miles) | 856 | | 863 | | (0.8) |
| Fuel gallons consumed (thousands) | 56,952 | | 52,993 | | 7.5 |
| Average fuel cost per gallon | $ 2.55 | | $ 2.68 | | (4.9) |
| Percent of sales via website and mobile app during period | 92.2 % | | 92.4 % | | (0.2) |
| Other data: | | | | | |
| Rental car days sold | 318,678 | | 322,076 | | (1.1) |
| Hotel room nights sold | 25,796 | | 45,620 | | (43.5) |
| | |
| (1) | Except load factor and percent of sales through website, which is percentage point change. |
| (2) | Defined as scheduled service revenue divided by revenue passenger miles. |
| (3) | Various components of this measurement do not have a direct correlation to ASMs. These figures are provided on a per ASM basis to facilitate comparison with airlines reporting revenues on a per ASM basis. |
| (4) | Reflects division of passenger revenue between scheduled service and air-related charges in Company's booking path. |
| Allegiant Travel Company Consolidated Statements of Income (in thousands, except per share amounts) (Unaudited) | |||||
| | |||||
| | Nine Months Ended September 30, | | Percent Change | ||
| | 2025 | | 2024 | | YoY |
| OPERATING REVENUES: | | | | | |
| Passenger | $ 1,728,802 | | $ 1,663,423 | | 3.9 % |
| Third party products | 108,249 | | 109,924 | | (1.5) |
| Fixed fee contracts | 52,123 | | 57,119 | | (8.7) |
| Resort and other | 61,216 | | 54,418 | | 12.5 |
| Total operating revenues | 1,950,390 | | 1,884,884 | | 3.5 |
| OPERATING EXPENSES: | | | | | |
| Salaries and benefits | 641,935 | | 618,595 | | 3.8 |
| Aircraft fuel | 483,339 | | 488,388 | | (1.0) |
| Station operations | 220,143 | | 206,898 | | 6.4 |
| Depreciation and amortization | 190,782 | | 193,122 | | (1.2) |
| Maintenance and repairs | 111,141 | | 91,286 | | 21.8 |
| Sales and marketing | 74,973 | | 83,266 | | (10.0) |
| Aircraft lease rentals | 28,038 | | 17,653 | | 58.8 |
| Other | 109,873 | | 121,671 | | (9.7) |
| Special charges, net of recoveries | 119,842 | | 40,002 | | NM |
| Total operating expenses | 1,980,066 | | 1,860,881 | | 6.4 |
| OPERATING INCOME (LOSS) | (29,676) | | 24,003 | | NM |
| OTHER (INCOME) EXPENSES: | | | | | |
| Interest income | (32,402) | | (33,441) | | (3.1) |
| Interest expense | 114,656 | | 118,769 | | (3.5) |
| Capitalized interest | (14,216) | | (34,718) | | (59.1) |
| Other, net | 1,064 | | 146 | | NM |
| Total other expenses | 69,102 | | 50,756 | | 36.1 |
| LOSS BEFORE INCOME TAXES | (98,778) | | (26,753) | | NM |
| INCOME TAX BENEFIT | (22,140) | | (2,745) | | NM |
| NET LOSS | $ (76,638) | | $ (24,008) | | NM |
| Loss per share to common shareholders: | | | | | |
| Basic | ($4.26) | | ($1.38) | | NM |
| Diluted | ($4.26) | | ($1.38) | | NM |
| Shares used for computation(1): | | | | | |
| Basic | 18,010 | | 17,802 | | 1.2 |
| Diluted | 18,010 | | 17,802 | | 1.2 |
| | |
| (1) | The Company's unvested restricted stock awards are considered participating securities as they receive non-forfeitable rights to cash dividends at the same rate as common stock. The basic and diluted earnings per share calculations for the periods presented reflect the two-class method mandated by ASC Topic 260, "Earnings Per Share." The two-class method adjusts both the net income and the shares used in the calculation. Application of the two-class method did not have a significant impact on the basic and diluted earnings per share for the periods presented. |
| NM | Not meaningful |
| Allegiant Travel Company Segment Profit or Loss (in thousands) (Unaudited) | |||||||||||
| | |||||||||||
| | Nine Months Ended September 30, 2025 | | Nine Months Ended September 30, 2024 | ||||||||
| | Airline | | Sunseeker | | Consolidated | | Airline | | Sunseeker | | Consolidated |
| REVENUE FROM EXTERNAL CUSTOMERS | $ 1,889,710 | | $ 60,680 | | $ 1,950,390 | | $ 1,831,116 | | $ 53,768 | | $ 1,884,884 |
| OPERATING EXPENSES: | | | | | | | | | | | |
| Salaries and benefits | 614,350 | | 27,585 | | 641,935 | | 580,775 | | 37,820 | | 618,595 |
| Aircraft fuel | 483,339 | | — | | 483,339 | | 488,388 | | — | | 488,388 |
| Station operations | 220,143 | | — | | 220,143 | | 206,898 | | — | | 206,898 |
| Depreciation and amortization | 183,623 | | 7,159 | | 190,782 | | 173,237 | | 19,885 | | 193,122 |
| Maintenance and repairs | 111,141 | | — | | 111,141 | | 91,286 | | — | | 91,286 |
| Sales and marketing | 70,583 | | 4,390 | | 74,973 | | 78,166 | | 5,100 | | 83,266 |
| Aircraft lease rentals | 28,038 | | — | | 28,038 | | 17,653 | | — | | 17,653 |
| Other operating expenses | 75,790 | | 34,083 | | 109,873 | | 87,930 | | 33,741 | | 121,671 |
| Special charges, net of recoveries | 18,894 | | 100,948 | | 119,842 | | 42,639 | | (2,637) | | 40,002 |
| Total operating expenses | 1,805,901 | | 174,165 | | 1,980,066 | | 1,766,972 | | 93,909 | | 1,860,881 |
| OPERATING INCOME (LOSS) | 83,809 | | (113,485) | | (29,676) | | 64,144 | | (40,141) | | 24,003 |
| OTHER (INCOME) EXPENSES: | | | | | | | | | | | |
| Interest income | (32,402) | | — | | (32,402) | | (33,441) | | — | | (33,441) |
| Interest expense | 91,190 | | 23,466 | | 114,656 | | 102,441 | | 16,328 | | 118,769 |
| Capitalized interest | (14,216) | | — | | (14,216) | | (34,392) | | (326) | | (34,718) |
| Other non-operating expenses | 1,064 | | — | | 1,064 | | 146 | | — | | 146 |
| Total other expenses | 45,636 | | 23,466 | | 69,102 | | 34,754 | | 16,002 | | 50,756 |
| INCOME (LOSS) BEFORE INCOME TAXES | $ 38,173 | | $ (136,951) | | $ (98,778) | | $ 29,390 | | $ (56,143) | | $ (26,753) |
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