Exhibit 12
Allegiant Travel Company
Computation of Ratio of Earnings to Fixed Charges
(in thousands, except for ratios)
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| Six Months Ended June 30, |
| Year Ended December 31, |
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| 2009 |
| 2008 |
| 2008 |
| 2007 |
| 2006 |
| 2005 |
| 2004 |
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Earnings: |
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Income before income taxes |
| $ | 81,609 |
| $ | 18,841 |
| $ | 55,252 |
| $ | 50,705 |
| $ | 15,816 |
| $ | 7,329 |
| $ | 9,147 |
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Add: Fixed charges |
| 3,199 |
| 3,707 |
| 7,153 |
| 6,800 |
| 6,859 |
| 3,883 |
| 2,016 |
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Add: Amortization of capitalized Interest |
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| 5 |
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| 9 |
| 8 |
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Less: Interest capitalized |
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| — |
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| 31 |
| 59 |
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Less: (Loss) earnings from joint venture, net |
| 84 |
| (43 | ) | 96 |
| 457 |
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| — |
| — |
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Total earnings |
| $ | 84,724 |
| $ | 22,596 |
| $ | 62,309 |
| $ | 57,057 |
| $ | 22,652 |
| $ | 11,153 |
| $ | 11,163 |
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Fixed charges: |
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Interest expense (1) |
| $ | 2,118 |
| $ | 2,904 |
| $ | 5,411 |
| $ | 5,523 |
| $ | 5,517 |
| $ | 3,009 |
| $ | 1,399 |
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Interest factor of operating lease expense (2) |
| 1,081 |
| 803 |
| 1,742 |
| 1,277 |
| 1,342 |
| 874 |
| 617 |
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Total fixed charges |
| $ | 3,199 |
| $ | 3,707 |
| $ | 7,153 |
| $ | 6,800 |
| $ | 6,859 |
| $ | 3,883 |
| $ | 2,016 |
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Ratio of earnings to fixed charges (3) |
| 26.48 |
| 6.10 |
| 8.71 |
| 8.39 |
| 3.30 |
| 2.87 |
| 5.54 |
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(1) | Interest expense includes insignificant amount of note payable discount amortization. |
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(2) | Interest factor of operating lease expense is based on an estimate which the Company considers to be a reasonable approxi mation. |
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(3) | The ratios of earning to fixed charges were computed by dividing earnings by fixed charges. |
