Allegiant Travel CO (ALGT) FY2025 10-K Annual Report
Allegiant Travel CO (ALGT) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 26, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Allegiant Travel CO FY2025 10-K Analysis
Business Overview
- • Core business: Low-cost, leisure-focused, nonstop air travel from under-served U.S. cities with diversified ancillary and third-party travel revenue
- • New emphasis: Proposed acquisition of Sun Country Airlines to broaden network, increase year-round service, charter, and cargo capabilities
- • Strategic shift: Sale of Sunseeker Resort completed Sept 2025 to refocus solely on airline operations under "Allegiant ONE" strategy
- • Quantitative highlight: Operating fleet of 122 aircraft (16 Boeing 737 MAX, 106 Airbus A320 series), 578 routes to 126 cities, 433 unique city pairs with no nonstop competition
- • Noteworthy fact: Ancillary revenue grew to $76.35 per passenger in 2025, up from $5.87 in 2004, contributing significantly to profitability
Management Discussion & Analysis
- • Revenue $2.5B airline-only operating, up 4.3% YoY
- • Operating CASM ex-fuel 8.04 cents, down 6.1% vs 2024, capacity growth 12.6%
- • Best segment: co-brand credit card remuneration $139.6M, up 3.6%
- • No specific weakest segment noted in text
- • Merger announced to acquire Sun Country Airlines January 2026
- • Completed sale of Sunseeker Resort in September 2025
- • 34 aircraft under purchase agreements with 11 deliveries expected in 2026
Risk Factors
- • Regulatory delay risk on Sun Country acquisition from routine approvals by aviation authorities potentially affecting timing and integration
- • Macroeconomic risk from 2025 consumer confidence decline and trade policies softening demand, contributing to 5.3% decrease in scheduled service fare
- • Aircraft delivery risk from Boeing 737 MAX production delays due to regulatory quality controls, possibly limiting 2026 fleet growth beyond 11 deliveries
- • Labor cost risk from unresolved pilot union negotiations with $235.9M accrued for retention bonuses to mitigate attrition until agreement ratified
- • Debt structure risk from $1.82B total debt with 58.8% fixed rate, and $23.9M increase in net interest expense mainly due to lower capitalized interest post new aircraft deliveries
Allegiant Travel CO FY2025 Key Financial MetricsXBRL
Revenue
$2.3B
▲ +4.8% YoY
Net Income
-$45M
▲ +81.4% YoY
Operating Margin
1.6%
▲ +1242bp YoY
Net Margin
-1.9%
▲ +891bp YoY
ROE
-4.2%
▲ +1781bp YoY
Total Assets
$4.2B
▼ -5.0% YoY
EPS (Diluted)
$-2.48
▲ +81.6% YoY
Operating Cash Flow
$390M
▲ +15.2% YoY
Source: XBRL data from Allegiant Travel CO FY2025 10-K filing on SEC EDGAR. All figures in USD.
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