"Team Allegiant executed a successful first quarter, delivering an airline-only operating margin of 9.3 percent, a three-point improvement from last year and among the best in the industry," stated Gregory Anderson, president and CEO of Allegiant Travel Company. "These financial results were underscored by our excellent operations, as the team achieved a 99.9 percent controllable completion during the quarter on 14.2 percent capacity growth. Exhibit 99.1 ALLEGIANT TRAVEL COMPANY FIRST QUARTER 2025 FINANCIAL ...

Allegiant Travel Company (ALGT) Summary - Scheduled traffic increased by 15.9% in March 2025 compared to March 2024, while capacity rose by 20.7% year over year [1] - The load factor decreased to 82.4% in March 2025 from 85.9% in the previous year due to capacity expansion outpacing traffic growth [1] - Total departures for scheduled services rose by 21.1% year over year in March 2025, with an average stage length increase of 1.1% [2] - Allegiant carried 14.2% more passengers system-wide in March 2025 compared to the same month last year, with system-wide capacity improving by 20.2% [2] - The estimated fuel price per gallon was $2.52 in March 2025 and $2.61 for the first quarter of 2025 [3] Competitor Analysis - Copa Holdings reported a year-over-year increase in revenue passenger miles in March 2025, with available seat miles rising by 5.5% [6][7] - LATAM Airlines experienced a 7.2% increase in consolidated capacity and a 5.6% rise in revenue passenger kilometers, despite the impact of the Carnival holidays [9][10] - Ryanair Holdings transported 15 million passengers in March 2025, reflecting a 10% year-over-year increase, with a stable load factor of 93% [12][13] - Ryanair operated over 84,000 flights in March 2025, a significant increase from previous months, and achieved a milestone of carrying 200 million passengers in its fiscal year ending March 2025 [14]

Group 1 - Allegiant Travel Company has scheduled its first quarter 2025 financial results conference call for May 6 at 4:30 p.m. EST [1] - The conference call will be available via live broadcast on the company's Investor Relations website and will be archived for later access [1] - Allegiant is an integrated travel company with a focus on connecting customers to key destinations through its airline services [2] Group 2 - Allegiant Air has been operational since 1999, providing nonstop flights from small-to-medium cities to major vacation destinations [2] - The company offers base airfares that are less than half the cost of the average domestic roundtrip ticket, highlighting its competitive pricing strategy [2]

Core Insights - Allegiant Travel Company reported a significant increase in passenger traffic for March 2025, with a total of 1,887,902 passengers, representing a 14.4% increase compared to March 2024 [2] - The company also experienced growth in revenue passenger miles (RPM) and available seat miles (ASM), with RPM increasing by 15.9% and ASM by 20.7% year-over-year [2] - The load factor decreased by 3.5 percentage points to 82.4%, indicating a slight decline in seat occupancy [2] Scheduled Service – Year Over Year Comparison - March 2025 passengers: 1,887,902 vs. March 2024: 1,649,826, a change of 14.4% [2] - Revenue passenger miles (000): March 2025: 1,819,246 vs. March 2024: 1,569,978, a change of 15.9% [2] - Available seat miles (000): March 2025: 2,206,943 vs. March 2024: 1,828,212, a change of 20.7% [2] - Load factor: March 2025: 82.4% vs. March 2024: 85.9%, a decrease of 3.5 percentage points [2] - Departures: March 2025: 13,407 vs. March 2024: 11,075, an increase of 21.1% [2] - Average stage length (miles): March 2025: 940 vs. March 2024: 930, an increase of 1.1% [2] 1st Quarter 2025 Results - Passengers: 4,420,811 in Q1 2025 vs. 4,069,519 in Q1 2024, an increase of 8.6% [4] - Revenue passenger miles (000): Q1 2025: 4,271,328 vs. Q1 2024: 3,883,810, an increase of 10.0% [4] - Available seat miles (000): Q1 2025: 5,305,191 vs. Q1 2024: 4,636,922, an increase of 14.4% [4] - Load factor: Q1 2025: 80.5% vs. Q1 2024: 83.8%, a decrease of 3.3 percentage points [4] - Departures: Q1 2025: 32,133 vs. Q1 2024: 28,177, an increase of 14.0% [4] - Average stage length (miles): Q1 2025: 941 vs. Q1 2024: 926, an increase of 1.7% [4] Total System – Year Over Year Comparison - March 2025 total passengers: 1,904,613 vs. March 2024: 1,668,252, a change of 14.2% [5] - Available seat miles (000): March 2025: 2,275,018 vs. March 2024: 1,892,229, a change of 20.2% [5] - Departures: March 2025: 13,885 vs. March 2024: 11,585, an increase of 19.9% [5] - Average stage length (miles): March 2025: 935 vs. March 2024: 921, an increase of 1.6% [5] - Q1 2025 total passengers: 4,451,306 vs. Q1 2024: 4,104,860, an increase of 8.4% [5] - Q1 2025 available seat miles (000): 5,451,584 vs. Q1 2024: 4,771,971, an increase of 14.2% [5] - Q1 2025 departures: 33,235 vs. Q1 2024: 29,225, an increase of 13.7% [5] - Q1 2025 average stage length (miles): 935 vs. Q1 2024: 919, an increase of 1.8% [5] Preliminary Financial Results - Estimated average fuel cost per gallon for March 2025: $2.52 [6] - Estimated average fuel cost per gallon for Q1 2025: $2.61 [6] Company Overview - Allegiant Travel Company is an integrated travel company based in Las Vegas, focusing on connecting customers with various destinations through its airline services [7] - The company has been operational since 1999, providing nonstop flights from small-to-medium cities to vacation destinations at competitive fares [7]

Industry Overview - The Zacks Transportation - Airline industry is benefiting from declining fuel costs, which are a significant input cost for airlines [1][4] - Airlines are cutting capacity to address the tariff-induced decline in air travel demand, which is a shareholder-friendly approach [1][6] - The industry includes both legacy carriers and low-cost airlines, with operations supported by regional subsidiaries and third-party carriers [3] Financial Performance - The Zacks Airline industry has gained 23.7% over the past year, outperforming the S&P 500's rise of 7.7% and the broader sector's decline of 12.1% [12] - The industry's earnings estimate for 2025 has improved by 5% since September 2024, indicating positive earnings growth potential [10] Valuation Metrics - The industry has a forward 12-month price-to-sales (P/S) ratio of 1.16X, significantly lower than the S&P 500's 4.81X and the sector's 1.68X [15] Key Players - SkyWest (SKYW) has seen its stock surge 28% in the past year, with a 7.6% increase in the Zacks Consensus Estimate for 2025 earnings over the past 60 days [20] - Frontier Group (ULCC) has experienced a 42.2% increase in the Zacks Consensus Estimate for 2025 earnings, and is offering free checked bags for summer travel [23][24] - Allegiant (ALGT) has a Zacks Rank 2 (Buy) and has revised its current-year earnings estimate upward by 21.8% over the past 60 days [26]

Core Insights - Allegiant is recognized as the only U.S. airline on Newsweek's America's Most Loved Brands 2025 list, highlighting its strong customer loyalty and brand affection [1][2]. Company Overview - Allegiant operates a unique business model focused on nonstop flights, primarily connecting underserved cities to popular vacation destinations, which enhances convenience for travelers [3][4]. - The airline has been acknowledged for its customer experience, including an innovative in-flight menu and a popular loyalty program, Allways Rewards [4][5]. Recognition and Ratings - The recognition from Newsweek is based on a study involving over 359,000 brand reviews and a survey of 24,000 American consumers, where Allegiant received a four out of five-star rating across five key categories: brand love, credibility, reliability, purchase intent, and affinity [2][7]. - Allegiant was also named one of America's top airlines by the Wall Street Journal and awarded the title of Best Low-Cost Airline in North America at the 2024 World Airline Awards [5][6]. Customer Commitment - The airline emphasizes its commitment to safety, reliability, and exceptional service, which is attributed to the dedication of its team [6]. - Allegiant's focus on providing affordable travel solutions aims to empower customers to customize their travel experiences [3][4].

Core Viewpoint - The article emphasizes the importance of value investing and highlights Allegiant (ALGT) as a strong candidate for value investors due to its favorable financial metrics and Zacks Rank [2][4][6] Company Analysis - Allegiant (ALGT) currently holds a Zacks Rank of 2 (Buy) and has a Value grade of A, indicating strong potential for value investors [4] - The stock is trading at a P/E ratio of 6.84, significantly lower than the industry average P/E of 15.24, suggesting it may be undervalued [4] - Over the past 12 months, ALGT's Forward P/E has fluctuated between a high of 61.81 and a low of 6.50, with a median of 10.34, indicating volatility in its valuation [4] Industry Comparison - The P/S ratio for Allegiant is 0.41, compared to the industry average P/S of 0.53, further supporting the notion that ALGT is undervalued [5] - The metrics discussed, including P/E and P/S ratios, are commonly used by value investors to assess stock performance and potential [5][6]

Core Viewpoint - Allegiant Travel Company (ALGT) is experiencing improved demand and expansion efforts, but faces challenges with weak liquidity and rising expenses [1]. Group 1: Demand and Capacity - Robust air travel demand is enhancing ALGT's prospects, with scheduled traffic increasing by 4.7% from February 2024 levels [2]. - Capacity for scheduled service rose significantly by 10.7% year over year, although this led to a slight decline in load factor to 79.5%, down from 84% the previous year [2]. Group 2: Expansion Strategy - ALGT is strategically expanding with 44 new nonstop routes, including three new cities, catering to the demand for affordable air travel [3]. - The addition of cities like Gulf Shores, Colorado Springs, and Columbia, along with new airports, positions ALGT to serve popular vacation destinations and underserved markets [3]. Group 3: Capacity Growth Plans - In 2025, ALGT plans to enhance capacity through increased aircraft utilization during peak leisure periods, with the delivery of 9 new MAX aircraft [4]. - The new aircraft are expected to offer significantly higher earnings potential compared to the older A320 aircraft they will replace [4]. - ALGT is also expanding its premium seating offering, currently equipping 56 aircraft with Allegiant Extra, which boosts ancillary revenue per passenger [4]. Group 4: Financial Challenges - ALGT's financial stability is under pressure due to elevated operating expenses, which surged by 17% year over year in 2024, primarily driven by labor costs [5]. - Labor costs, comprising 29.8% of total operating expenses, increased by 19.2% year over year [5]. - The company ended 2024 with a current ratio of 0.74, indicating liquidity challenges, as a ratio above 1 is preferable for meeting short-term obligations [6]. Group 5: Stock Performance - ALGT shares have declined by 22.9% over the past year, contrasting with a 12.9% rise in the Zacks Transportation - Airline industry during the same period [6].

Core Viewpoint - Allegiant Travel Company (ALGT) has reduced its capacity growth forecast for 2025 due to weak leisure demand during off-peak periods, now expecting a 13% year-over-year growth compared to the previously estimated 17% [1] Group 1: Capacity and Demand - ALGT's management anticipates a decline of just over 7% in total unit revenues (TRASM) for Q1 2025 compared to Q1 2024 due to softness in leisure air travel demand [2] - Despite the weak leisure travel demand, ALGT carried approximately 1.28 million passengers in February, marking a 2.9% year-over-year increase [4] - Scheduled traffic increased by 4.7% from February 2024 levels, while capacity for scheduled service rose by 10.7% year over year [5] Group 2: Financial Performance - ALGT has improved its cost performance, tightening its March quarter earnings guidance to approximately $1.50 per share, down from a previous range of $1.50-$1.75 per share [3] - Total departures for scheduled services increased by 9.7% in February 2025 compared to the previous year, with overall capacity rising by 10.6% [6] Group 3: Expansion and Fleet Modernization - To address the strong air travel demand, ALGT is expanding its network by adding 44 new nonstop routes, including routes to Gulf Shores, Alabama, Colorado Springs, Colorado, and Columbia, South Carolina [11] - The fleet size has grown from 91 at the end of 2019 to 125 by the end of 2024, reflecting ongoing modernization efforts [12] Group 4: Valuation and Market Position - ALGT is considered undervalued with a forward price-to-sales (P/S) ratio of 0.33, significantly lower than industry averages and its five-year average [13] - Despite the positive outlook, rising operating expenses, particularly a 19% year-over-year increase in labor costs in 2024, pose challenges [14][15] Group 5: Debt Concerns - The company's long-term debt reached $1.25 billion by the end of 2025, a 29% increase from 2019 levels, raising concerns about financial stability [16]

Core Insights - Allegiant Travel Company is experiencing softness in leisure demand during shoulder and off-peak periods, while peak weeks in March are performing strongly with TRASM nearly in line with the previous year despite significant growth [2] - The company expects first quarter TRASM to decline by just over seven percent year-over-year and is reducing its full-year capacity forecast from an increase of 17 percent to 13 percent [2] - Better-than-expected cost performance is anticipated, with consolidated earnings per share expected to be around $1.50, and the airline contributing approximately $1.75 per share [2] Passenger Traffic Results - In February 2025, Allegiant reported 1,280,034 passengers, a 2.9% increase from 1,243,576 passengers in February 2024 [4] - Revenue passenger miles increased by 4.7% to 1,249,948, while available seat miles rose by 10.7% to 1,573,230 [4] - The load factor decreased by 4.5 percentage points to 79.5%, with departures increasing by 9.7% to 9,390 [4] Total System Performance - Total system passengers in February 2025 were 1,286,748, up 2.6% from 1,253,860 in February 2024 [4] - Available seat miles for the total system increased by 10.6% to 1,610,101, and departures rose by 9.4% to 9,676 [4] - The average stage length increased by 2.3% to 946 miles [4] Financial Metrics - The estimated average fuel cost per gallon for February 2025 is $2.70 [6] - Allegiant is focused on connecting customers from small-to-medium cities to vacation destinations with low average fares [6]