Josh Godin

Josh Godin sought a more detailed understanding of the Q1 guidance versus the full-year outlook, specifically regarding the expected seasonality of margins in 2026 compared to 2025. He also asked if the company has a playbook for a potential carrier liquidation event in the industry and its potential impact on Allegiant.

Answer

Drew Wells, Chief Commercial Officer, noted that margin cadence depends on summer demand, with the industry taking a conservative view. Greg Anderson, CEO, stated that the full-year guide is confident but measured, given remaining Q1 bookings. Greg Anderson emphasized that Allegiant's success is not dependent on other carriers, citing its differentiated model and limited overlap. Robert Neal, President and Chief Financial Officer, added that the team monitors industry capacity and would evaluate opportunities as they arise, noting recent growth in Fort Lauderdale.