Allegiant Travel (ALGT) Company Report

Allegiant will acquire Sun Country in a cash and stock transaction, valuing Sun Country at approximately $1.5 billion, inclusive of $400 million of net debt, or a fully diluted equity value of $1.1 billion.
The acquisition implies a value of $18.89 per Sun Country share, representing a 19.8% premium over its January 9 closing share price of $15.77. Sun Country shareholders will receive 0.1557 shares of Allegiant stock plus $4.10 in cash per share, and will own approximately 33% of the combined company.
The transaction is expected to generate $140 million in annual synergies and be accretive to Allegiant's EPS in the first full year post-closing.
The deal is anticipated to close in the second half of 2026, subject to customary closing conditions, including regulatory and shareholder approvals. Greg Anderson will continue as CEO, and Sun Country's CEO, Jude Bricker, will join the combined company's board and serve as an advisor.

Jan 12, 2026, 1:30 PM

Transcript

Allegiant Travel Company to Acquire Sun Country

ALGT

M&A

New Projects/Investments

Board Change

Allegiant Travel Company will acquire Sun Country in a cash and stock transaction valued at approximately $1.5 billion, including $400 million of net debt. This represents an implied value of $18.89 per Sun Country share, a 19.8% premium over its January 9 closing price.
The acquisition is expected to generate $140 million in annual synergies within approximately three years post-close and be accretive to EPS in the first full year post-closing.
The combined company will serve 22 million passengers annually across nearly 175 communities, leveraging complementary networks and flexible capacity models.
The transaction is expected to close in the second half of 2026, pending regulatory and shareholder approvals. Greg Anderson will continue as CEO of the combined entity, and Jude Bricker will join the board.

Jan 12, 2026, 1:30 PM

Transcript

Allegiant Travel Company to Acquire Sun Country

ALGT

M&A

Guidance Update

Board Change

Allegiant Travel Company announced a definitive agreement to acquire Sun Country in a cash and stock transaction, valuing Sun Country at approximately $1.5 billion, including $400 million of net debt, or a fully diluted equity value of $1.1 billion.
The deal implies a total merger consideration of $18.89 per Sun Country share, representing a 19.8% premium over its January 9 closing price. Sun Country shareholders will receive 0.1557 shares of Allegiant stock plus $4.10 in cash per share and will own approximately 33% of the combined company.
The acquisition is expected to generate $140 million in annual synergies (net of disynergies) within approximately three years post-close and be accretive to Allegiant's EPS in the first full year post-closing (2027).
The combined company will continue under the Allegiant name, headquartered in Las Vegas, with Greg Anderson as CEO and Robert Neal as President and CFO; Jude Bricker will join the board and advise. The transaction is expected to close in the second half of 2026.

Jan 12, 2026, 1:30 PM

Transcript

Allegiant Announces Acquisition of Sun Country

ALGT

M&A

Board Change

New Projects/Investments

Allegiant is set to acquire Sun Country, with Allegiant shareholders owning approximately 67% and Sun Country shareholders 33% of the combined company upon closing. The transaction values Sun Country at a total of $1.5 billion (including adjusted net debt).
Sun Country shareholders will receive 0.1557 shares of Allegiant plus $4.10 in cash for each share, implying a total merger consideration of $18.89 per share as of January 9, 2026, which represents a 19.8% premium to Sun Country's closing share price on that date.
The acquisition is expected to close in the second half of 2026 and is anticipated to generate $140 million in annual run-rate synergies.
The combined company is projected to be accretive to EPS in Year 1 Post Closing and will maintain a strong balance sheet with pro forma adjusted net leverage below 3.0x at closing.
The combined entity will continue under the Allegiant name, headquartered in Las Vegas, with Maury Gallagher as Chairman, Greg Anderson as Chief Executive Officer, and Robert Neal as President and Chief Financial Officer.

Jan 12, 2026, 1:30 PM

Presentation

Allegiant Travel Co. Announces Acquisition of Sun Country Airlines

ALGT

M&A

EPS Accretion

Board Change

Allegiant Travel Co. announced an agreement to acquire Sun Country Airlines, forming a leading leisure-focused U.S. airline.
The transaction values Sun Country at $1.5 billion, with Sun Country shareholders receiving 0.1557 shares of Allegiant plus $4.10 in cash per share, leading to Allegiant shareholders owning approximately 67% of the combined company.
The merger is projected to yield $140 million in annual synergies by the third year post-closing and be accretive to earnings per share (EPS) in the first year post-closing.
The combined entity will operate under the Allegiant name, maintain its headquarters in Las Vegas, and is anticipated to close in the second half of 2026.
Gregory C. Anderson will serve as CEO, Robert Neal as President & CFO, and Sun Country's CEO, Jude Bricker, will join the Board of Directors upon closing.

Jan 12, 2026, 1:23 PM

8-K

Allegiant and Sun Country Airlines to Combine

ALGT

M&A

New Projects/Investments

Allegiant (NASDAQ: ALGT) and Sun Country Airlines (NASDAQ: SNCY) announced a definitive merger agreement where Allegiant will acquire Sun Country in a cash and stock transaction.
The transaction values Sun Country at approximately $1.5 billion, inclusive of $0.4 billion of net debt, with an implied value of $18.89 per Sun Country share.
Sun Country shareholders will receive 0.1557 shares of Allegiant common stock and $4.10 in cash for each Sun Country share owned.
The combined company is expected to generate $140 million in annual synergies by Year 3 Post Close and be accretive to EPS Year 1 Post Closing.
The transaction is expected to close in the second half of 2026, pending U.S. federal antitrust clearance, other regulatory approvals, and shareholder approvals.

Jan 11, 2026, 9:08 PM

Press Release

Allegiant Reports November 2025 Traffic Results

ALGT

Revenue Acceleration/Inflection

Allegiant Travel Company reported a 10.6% year-over-year increase in scheduled service passengers to 1,343,190 for November 2025.
Scheduled service revenue passenger miles grew by 10.0% year-over-year to 1,218,668 thousand, while available seat miles increased by 9.5% to 1,512,993 thousand in November 2025.
The scheduled service load factor for November 2025 was 80.5%, a 0.3 percentage point increase compared to November 2024.
The estimated average system fuel cost per gallon for November 2025 was $2.76.

Dec 23, 2025, 2:00 PM

Press Release

Allegiant Travel Company Amends Revolving Credit Agreement

ALGT

Debt Issuance

On December 5, 2025, Allegiant Travel Company amended its Revolving Credit and Guaranty Agreement.
The amended facility now allows for borrowings of up to $150.0 million and extends the maturity date until December 2030.
Deutsche Bank AG New York Branch has been added as a lender with a $50.0 million commitment, joining existing lender Barclays Bank PLC with a $100.0 million commitment.
The Credit Agreement remains undrawn at this time.

Dec 9, 2025, 9:59 PM

8-K

Allegiant Reports October 2025 Traffic Results

ALGT

Revenue Acceleration/Inflection

Allegiant Travel Company reported a 27.4% year-over-year increase in scheduled service passengers, reaching 1,488,444 in October 2025.
The scheduled service load factor improved by 3.4 percentage points year-over-year to 81.9% in October 2025.
The estimated average system fuel cost per gallon for October 2025 was $2.61.

Nov 25, 2025, 2:00 PM

Press Release

Allegiant Announces 30 New Nonstop Routes and Four New Markets

ALGT

New Projects/Investments

Product Launch

Allegiant Travel Company (ALGT) announced the addition of 30 new nonstop routes connecting 35 cities across the country.
This expansion includes entering four new markets: La Crosse, Wisconsin; Philadelphia, Pennsylvania; Trenton, New Jersey; and Columbia, Missouri.
The new routes are scheduled to launch in the first half of 2026, with introductory one-way fares available from $39.