ALGTHIGH SIGNALOPERATIONAL10-K

Allegiant announced a planned acquisition of Sun Country Airlines while substantially reducing its net losses and expanding its route network.

The proposed Sun Country Airlines acquisition represents a significant strategic expansion that could materially alter Allegiant's competitive position and operational scale in the leisure travel market. The company's substantial improvement in profitability, combined with positive operating cash flow generation, suggests strengthened financial capacity to execute this acquisition strategy.

Comparing 2026-02-26 vs 2025-03-03View on EDGAR →
FINANCIAL ANALYSIS

Allegiant demonstrated meaningfully improved financial performance with substantially reduced net losses while maintaining strong operational cash generation that grew 15.2% to $389.8 million. The company's cash position declined notably to $172.7 million, likely reflecting operational investments and acquisition preparation costs, though this was partially offset by a reduction in current liabilities. The overall financial picture signals improved operational efficiency and cash generation capability, positioning the company for its planned strategic expansion.

FINANCIAL STATEMENT CHANGES
Net Income
P&L
+81.4%
-$240.2M→-$44.7M

Net income grew 81.4% — bottom-line growth signals improving overall business health.

Cash & Equivalents
Balance Sheet
-39.6%
$285.9M→$172.7M

Cash declined 39.6% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.

Current Liabilities
Balance Sheet
-20.3%
$1.3B→$1.0B

Current liabilities reduced — improved short-term financial position and working capital health.

Operating Cash Flow
Cash Flow
+15.2%
$338.5M→$389.8M

Operating cash flow grew 15.2% — strong conversion of earnings to cash, healthy business fundamentals.

LANGUAGE CHANGES
NEW — 2026-02-26
PRIOR — 2025-03-03
ADDED
Management's Discussion and Analysis of Financial Condition and Results of Operations 39 ITEM 7A.
As of February 1, 2026, we were selling travel on 578 routes to 126 cities.
As of February 1, 2026, our operating fleet consisted of 16 Boeing 737 series aircraft and 106 Airbus A320 series aircraft.
We offer third party travel products such as hotel rooms, rental cars, and travel insurance from a third party insurer for sale to our passengers.
We provide air transportation through fixed fee agreements and charter service on a year-round and ad hoc basis.
Proposed Acquisition of Sun Country Airlines On January 11, 2026, we announced that we plan to acquire Sun Country Airlines Holdings, Inc.
( Sun Country ) pursuant to an Agreement and Plan of Merger (the Merger Agreement ).
Pursuant to the Merger Agreement, each existing share of Sun Country common stock will be converted into the right to receive (i) $4.10 in cash, without interest and (ii) 0.1557 shares of our common stock.
The Merger Agreement provides that, immediately following the effective date of the proposed acquisition of Sun Country, we will increase the size of our board of directors by three members, which will be comprised of three directors designated by Sun Country, one of whom will be Jude Bricker, the president and chief executive officer of Sun Country, and two of whom will be current members of Sun Country s board of directors who are reasonably acceptable to our nominating and governance committee.
We and Sun Country each make certain customary representations, warranties and covenants, as applicable, in the Merger Agreement, including, among others, covenants regarding the conduct of our respective businesses during the pendency of the transactions contemplated by the Merger Agreement.
REMOVED
Management's Discussion and Analysis of Financial Condition and Results of Operations 37 ITEM 7A.
In connection with our leisure travel focus, we opened Sunseeker Resort Charlotte Harbor on December 15, 2023.
The resort has 785 guestrooms (including suites) and 18 curated food and beverage outlets.
As of February 1, 2025, our operating fleet consisted of 119 Airbus A320 series aircraft and four Boeing 737 series aircraft.
As of that date, we were selling travel on 577 routes to 122 cities.
We offer third party travel products such as hotel rooms, ground transportation (rental cars and hotel shuttle products) and travel insurance from a third party insurer for sale to our passengers.
We provide air transportation through fixed fee agreements and charter service on a year-round and ad-hoc basis.
Our annual report, quarterly reports, current reports and amendments to those reports are made available free of charge through the investor relations section on our website as soon as reasonably practicable after electronically filed with or furnished to the Securities and Exchange Commission ( SEC ).
As of February 1, 2025, we serve 533 active routes between 86 origination cities and 36 leisure destinations in 42 states, and as of that date, we had announced 44 new routes scheduled to begin service in 2025.
We have increased revenue related to these ancillary items from $5.87 per passenger in 2004 to $75.83 per passenger in 2024.
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