Allegiant Travel(US:ALGT)2025-07-10 11:43Business Model and Operations - Allegiant operates a unique leisure carrier model focusing on low-cost, low-utilization, and matching demand trends from small/medium cities to leisure destinations[6] - The company has diversified revenue streams, with airfare at $66.2 per passenger, air ancillary at $66.4 per passenger, and third-party revenue at $7.6 per passenger[6] - Allegiant's route network includes 558 routes, connecting 91 small/medium cities to 33 leisure destinations as of June 30, 2024[12] - The airline is increasing capacity during peak leisure months and reducing it during low-demand months, with 20% of departures per day in 2024[5] Fleet and Expansion - As of June 30, 2024, Allegiant operates 92 A320 and 34 A319 aircraft[7] - The company has an order book of 50 firm and 80 options for new aircraft[7] - The introduction of Boeing 737 aircraft is expected to increase fuel efficiency by up to 20% per passenger compared to the existing Airbus fleet[82] Financial Performance - Allegiant's total revenue for the trailing twelve months (TTM) as of June 30, 2024, was $2.5 billion[6] - The airline ended 2Q24 with approximately 525,000 total cardholders in its Allways Rewards Visa program[29] - The company's net debt as of 2Q24 is $1.368 billion, with a net debt to EBITDA ratio of 3.8x[67] - The airline's unrestricted cash and investments totaled $851 million as of 2Q24[69]